If we follow the big picture and use fibonacci rules, we see that the latest breakout hit the highest extension on the previous breakout in 2017. A correction possible back to 46k or into the trend channel of btc is very likely. Also seeing the bearish divergence on the rsi chart, while the price was increasing, was a bad sign. sell all right now, short and then buy back in lower
Commentaire:
The correction went unfortunately a bit further than 46k until the lower trend channel line. It looks like it holds for now. Expecting to see a range and resuming the uptrend tho. Not sure if it will go above the upper trend channel again, because the rise of Eth. But we will see. For now, this chart holds up good.