A steely upgrade: BTCUSDT overextended Third Wave underway.
So let's say that we were slightly wrong on the Third Wave target price of 21.4k from our previous forecast 'Keep this in your pocket: Oct 2021 will be a Bear market for BTC'.
Third Waves typically show the strongest volume, as evident from past 48hrs of trading -- and this is exactly 3years from 17th DEC 2017's all-time highs.
Coincidence much?
This means we're obliged to upgrade our Fourth Wave targets higher to a region of 18.4k to 21.7k: A corrective move within this coming week in this region will more or less give confirmation that Third Wave has ended and that we're on Fourth Wave underway.
Also without any divergence signals from the MACD, and an RSI signal that's extremely overbought, one will need balls of steels to continue chasing the current rally.
Can
BTC continue on its parabolic climb and upgrade its Fourth Wave targets still? Absolutely. With FOMO (part I) kicking in, and on-chain analysis not showing massive transfers of bitcoins into exchanges, this overextension could very well continue.
You'll need a steely resolve to bet against that!
Third Waves typically show the strongest volume, as evident from past 48hrs of trading -- and this is exactly 3years from 17th DEC 2017's all-time highs.
Coincidence much?
This means we're obliged to upgrade our Fourth Wave targets higher to a region of 18.4k to 21.7k: A corrective move within this coming week in this region will more or less give confirmation that Third Wave has ended and that we're on Fourth Wave underway.
Also without any divergence signals from the MACD, and an RSI signal that's extremely overbought, one will need balls of steels to continue chasing the current rally.
Can
BTC continue on its parabolic climb and upgrade its Fourth Wave targets still? Absolutely. With FOMO (part I) kicking in, and on-chain analysis not showing massive transfers of bitcoins into exchanges, this overextension could very well continue.You'll need a steely resolve to bet against that!
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