Bitcoin Liquid IndexMis à jour BTCUSD: Weekly Chart Is Not Bullish
Hello All,
BTC is SUPER overbought. Any parabolic move HAS to correct. The 2017 fractal is near identical to this fractal. BTC fell -85% from those highs.
While looking at the RSI, we can see it has been overbought since 10k. Throughout the 2016 run, it had 5 healthy corrections to oversold conditions. This hasn't happened yet.
On the flipside, BTC can continue to run some more, 50k is psychological resistance . Although, a correction is coming very soon. We can't lose sight of these overbought conditions.
Tesla announced they have purchased BTC in their ANNUAL SEC filing. As far as I know, this means they could have boughten BTC anytime the last year. No one knows the date or price.
Thank you ! Please Comment And Like.
BTC is SUPER overbought. Any parabolic move HAS to correct. The 2017 fractal is near identical to this fractal. BTC fell -85% from those highs.
While looking at the RSI, we can see it has been overbought since 10k. Throughout the 2016 run, it had 5 healthy corrections to oversold conditions. This hasn't happened yet.
On the flipside, BTC can continue to run some more, 50k is psychological resistance . Although, a correction is coming very soon. We can't lose sight of these overbought conditions.
Tesla announced they have purchased BTC in their ANNUAL SEC filing. As far as I know, this means they could have boughten BTC anytime the last year. No one knows the date or price.
Thank you ! Please Comment And Like.
Note
Everyone Please note this is a WEEKLY chart. This takes weeks/months to play out. I believe a push to 50k in the short term is very possible.
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Follow me on twitter! twitter.com/traderview2
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.