BTC is respecting the trend line for a long time. There was a breakout, today reaching ATH but it stands out to be a fakeout. A restest to the current strong trend line level, which acted as support holding the previous drop around the 30K area would be great.
It could also be that the 32K support area could stand strong as also the trend line will be intersecting in there.
BTC is currently in the parabolic move and in the phase of new price discovery. Lots of institutions are investing in, and the FOMO is making it move even further. RSI is very overbought and sometimes there will be a situation buyer will run out of fuel and big WHALES taking out the profit causing it to dip. A 25 to 40% of the drop is realistic and institution targeting with the mouth open to buy the biggest dip. So, be aware of the market and try to buy the biggest dip possible.
It could also be that the 32K support area could stand strong as also the trend line will be intersecting in there.
BTC is currently in the parabolic move and in the phase of new price discovery. Lots of institutions are investing in, and the FOMO is making it move even further. RSI is very overbought and sometimes there will be a situation buyer will run out of fuel and big WHALES taking out the profit causing it to dip. A 25 to 40% of the drop is realistic and institution targeting with the mouth open to buy the biggest dip. So, be aware of the market and try to buy the biggest dip possible.
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