The big picture
I have shown two channels, one huge encompassing channel and a recent steep bull channel. Bitcoin has broken above the steep channel and now wants to also break above the mid line of the large channel. (I'll show closer view of that in comments.) RSI screams overbought but as it always does when bitcoin is on a rampage.
To me it looks like bitcoin is on a large spike up which as always will eventually end at some unfathomable new high followed by extremely painful crash for those who bought in late. I don't think the top is in yet.
To me it looks like bitcoin is on a large spike up which as always will eventually end at some unfathomable new high followed by extremely painful crash for those who bought in late. I don't think the top is in yet.
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