This seems to be bulltrap, everyone believing the bottom is in, while we havent even made a simple retest. The aggresive nature of this pump shows it might be a squeeze.
Seriously overbought on the RSI, approaching 127 Fibonacci targets from the lows and a .61 retrace from the top, crossing into a zone that also aligns with a major resistance. Which would correspond with the .78 bitcoin at 102k for a possible rejection on both.
All the fundamentals that every one was hoping on seem to have gone bad and the technicals show a bearish outcome.
Trade with care.
Targets are shown.That would correspond with bitcoin at 72k and bitcoin at 65k.
Possibility for 52k also, but minimal.
Seriously overbought on the RSI, approaching 127 Fibonacci targets from the lows and a .61 retrace from the top, crossing into a zone that also aligns with a major resistance. Which would correspond with the .78 bitcoin at 102k for a possible rejection on both.
All the fundamentals that every one was hoping on seem to have gone bad and the technicals show a bearish outcome.
Trade with care.
Targets are shown.That would correspond with bitcoin at 72k and bitcoin at 65k.
Possibility for 52k also, but minimal.
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