Here are a couple of scenarios for Bitcoin. We have had a nice rally without a nice correction. Bitcoin needs more juice to push higher. Therefore a healthy pull back could be in the making. Pull backs or corrections are needed and are healthy in any market. Anyone who hate corrections are typically emotional traders without a plan. Investors who are long term investors can position themselves to take advantage of these price levels. It's easier to be an investor in a Bull Market. Patience is all you need. Price will come back to key levels if the asset is valuable. Parabolic is not what we want with BTC. The longer the parabolic move the deeper the correction. We want healthier moves with decent corrections.
If we break $17,000 we could see a deeper drop. If we break above $20,000 and close we could go higher. However, keep an eye out for a potential Double Top. If a Double Top occurs, that's a nasty drop coming...
If we break $17,000 we could see a deeper drop. If we break above $20,000 and close we could go higher. However, keep an eye out for a potential Double Top. If a Double Top occurs, that's a nasty drop coming...