What a bull run! did not expect to hit 6k so soon. This is euphoric and overwhelming. Well some of you might have had great gains in short time. If you did not, don't worry- this sort of market keeps on giving you life changing opportunity.
So how does it look right now? Well it definitely is very tempting to short but shall we? what if it hits 7K? Sure definitely it could.
3 major thick lines are self explanatory.
If you see last bull run- it lasted for 46-47 days. if that happens, we are targeting end of october with potential target of 6.7k around. Well that definitely seems like it could happen as people will receive their free btc gold and try to hedge against BTC to make it even go much higher.
But it has to end correct? whatever goes up comes down. Wait until you see a bear catching up on BTC like on ALTS
I think if you are in a good profit- take this opportunity to sell and enjoy the gains - dont be greedy. I won't even advise to put into alts as i haven't seen bottom formation. Most of the time there is bottom formation and then accumulation before any long run. Some might be exception but be careful. 9 based on last bull run price difference, we have already hit that mark.- Just FYI (% wise it looks like a different story)
Also Bearish Divergence on RSI, MACD is a big concern. Wait until a huge drop happens because it will.
Next short term target for bull should be 6.4-6.5 k and for bear it is previous ATH(5.85)
thanks for the update, please around when the dip fall gonna be?
tshah
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@alabiwolex, hey noone exactly knows when its gonna happen- but to stay on a safer side- don't short until the fork happens as people might also buy at the last moment for BTC gold. also after the fork people might sell that BTC gold for btc pushing price even higher .
but we are in a territory of high risk/reward long for BTC- it might fall anyday now or could also go up to 7k if it breaks ATH.