Hey traders,
Since the start of this month after the Bitcoin price spiked from $13600 to $16000, it's been consolidating and lacking a sense of direction.
The price has been very unpredictable and hard to read until this morning, I think I have a sense of where the market is headed. Right now, the greed index on Bitcoin is very high sitting at 90/100 fear/greed but honestly the markets are going to continue pumping, It doesn't make sense for the price to dump hard, a hard correction, after not even rejecting off of a major resistance level.
I don't think we'll have a decently sized correction until BTC touches at least $16000. The price is obviously still grinding upwards, we saw a back test of the $14601 support level and now the price is ping-ponging back upwards to the next highest respected resistance level.
TP1 🎯 $16124
TP2 🎯 $16599.99
As always please do your own research, I am not a financial advisor.
Since the start of this month after the Bitcoin price spiked from $13600 to $16000, it's been consolidating and lacking a sense of direction.
The price has been very unpredictable and hard to read until this morning, I think I have a sense of where the market is headed. Right now, the greed index on Bitcoin is very high sitting at 90/100 fear/greed but honestly the markets are going to continue pumping, It doesn't make sense for the price to dump hard, a hard correction, after not even rejecting off of a major resistance level.
I don't think we'll have a decently sized correction until BTC touches at least $16000. The price is obviously still grinding upwards, we saw a back test of the $14601 support level and now the price is ping-ponging back upwards to the next highest respected resistance level.
TP1 🎯 $16124
TP2 🎯 $16599.99
As always please do your own research, I am not a financial advisor.
