Is this chart showing us some heightened emotions?

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I want to be super bullish on crypto too! But there is something about this move that rubs me wrong. This chart is showing me that this is more emotional based trading and the momentum is likely not sustainable longer term. I literally drew the first speedline (recent action) and just copy and pasted it to the other runs and they fit almost perfectly as you can see. Kinda odd. There are alot of peeps on YT and CT calling for never below 10k again and 30-100k predictions for EoY as well.

Im not short yet and will wait for my edge to tell me to do so, but had to get this off my chest.

🤔🤔🤔


Thanks for viewing and have a wonderful humpday! =)

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Please leave a comment!

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Coming down to test the trend line today. Bounced off so far...

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Forgot to add this note, Im also not bullish until we break 10700 on a weekly.