BitcoinUpdated BTC - GONE TILL' NOVEMBER?
Just an update showing both UPSIDE and DOWNSIDE potential for you guys! Overall IM STILL BULLISH on BTC but from a traders perspective I'd CAUTION that we could pullback here and consolidate for a bit up until around NOVEMBER!
The RSI on the DAILY is OVERBOUGHT. It would give the media an opportunity to REALLY hype up BTC and It would also give ALTS the opportunity to catch up. BTC.D Chart is approaching a resistance area (although still a little room for upside)
The other scenario is BTC BLASTS up to 75K area before a nice pullback and retest of the 65K level.
The question is HOW MUCH JUICE IS LEFT IN THE TANK?
BTC is up 57% in the last 20 days. Since OCTOBER.
Lets just be cautiously optimistic here!
Honestly BOTH scenarios are just as likely to me here. Futures contracts expire on the 29th of this month and we all know the market "MAGICALLY" pulls back before then but the question is
WILL WE BLAST and THEN pull back?
OR
Will we pull back just a little now and consolidate a bit before the BLAST?
I WOULD NOTE THAT IF BTC DOES CONSOLIDATE NOW, It would probably give Alts the opportunity to catch up a bit and even out the playing field before November!
What do you guys think?
The RSI on the DAILY is OVERBOUGHT. It would give the media an opportunity to REALLY hype up BTC and It would also give ALTS the opportunity to catch up. BTC.D Chart is approaching a resistance area (although still a little room for upside)
The other scenario is BTC BLASTS up to 75K area before a nice pullback and retest of the 65K level.
The question is HOW MUCH JUICE IS LEFT IN THE TANK?
BTC is up 57% in the last 20 days. Since OCTOBER.
Lets just be cautiously optimistic here!
Honestly BOTH scenarios are just as likely to me here. Futures contracts expire on the 29th of this month and we all know the market "MAGICALLY" pulls back before then but the question is
WILL WE BLAST and THEN pull back?
OR
Will we pull back just a little now and consolidate a bit before the BLAST?
I WOULD NOTE THAT IF BTC DOES CONSOLIDATE NOW, It would probably give Alts the opportunity to catch up a bit and even out the playing field before November!
What do you guys think?
Note
Well BTC answered that question for us!
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