BTCUSD
In the daily chart, Bitcoin is way overbought, as you can see by the MACD signal. And it is even breaking the upper trendline in a moon shoot kind of stile, which is impressive. Next target is $7,000 dollars.
I don´t know, but such a move, after a such an extended rally, with such overbought levels. I really don’t see how this could last past these week, I really don’t.
In a previous post, I said that I didn’t think it was worth pursuing it past the $6,000-dollar mark, even if it could hit the $7,000-dollar mark in the short term. And I still sustain that. When the correction comes, it should be a few thousand points, maybe to $5,000 or $4,000, we will see.
I’ll rather be out for now and wait for a deep correction to get back in. And if I missed the last $1,000 dollars of the rally, well, so be it.
Good luck in your decisions