BTC - S curve, bottleneck danger zone and a promised land
Many people are scratching their heads what we're going to see next with Bitcoin. Will it crash? Perhaps.
Or will it continue? We have without a doubt approached the strongest psychological barrier so far. The 5k barrier proved to be a very dangerous zone at first approach. It was a trap for many - and a tremendous opportunity for clever speculators.
Considering that CME group (and CBOE) plans for launching Bitcoin futures we may see a huge influx of new money. Bitcoin will be widely open for the public. Its popularity is gaining an incredible momentum and the entire industry is ridiculously pumped. All this coming at the same time. It is however a moment of a very high tension and things can go in any direction now but consider this...
An S curve and a new safe territory soon to open.
The industry will crash sooner or later but things aren't nearly as crazy as they can become, yet. For now however I advise to stay out and watch the risk takers walk through fire.
Or will it continue? We have without a doubt approached the strongest psychological barrier so far. The 5k barrier proved to be a very dangerous zone at first approach. It was a trap for many - and a tremendous opportunity for clever speculators.
Considering that CME group (and CBOE) plans for launching Bitcoin futures we may see a huge influx of new money. Bitcoin will be widely open for the public. Its popularity is gaining an incredible momentum and the entire industry is ridiculously pumped. All this coming at the same time. It is however a moment of a very high tension and things can go in any direction now but consider this...
An S curve and a new safe territory soon to open.
The industry will crash sooner or later but things aren't nearly as crazy as they can become, yet. For now however I advise to stay out and watch the risk takers walk through fire.
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Top of the S curve blown off much sooner than expected. The parabola is undeniable.
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Long upper shadow on the daily candlestick today. A sign of mania for sure and maybe a bit of exhaustion. Is it a sign of weakness and possible trend reversal?
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Resistance on $11500 and support on $10400?
Now hovering around $10650.
Now hovering around $10650.
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