A daily close above R1 will signal the bulls are in control and the bull run scenario is gaining more momentum. Caution buying pulls packs as the is the most choppy price level of BTCUSD. Positions in profits are advised to de-risk and handle the FOMO. RSI is in the overbought region since the last bull run. THERE ARE A LOT OF SHORTS TO WORK through BTC wont spike to 20k in few days
Hi - if you have time, please could you elaborate on your final comment? Why do shorts have to be 'worked through'? How do they inhibit the price rising? If people have shorts and the price rises won't they just get liquidated? How does that have an impact on the price rising? Just asking for education - I'm probably one of the newer people on here and I am interested. No worries if you don't have time to explain - just thought it was worth asking.