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I post that chart because I know some of you are going crazy about the bitcoin 10.21% ... is it a bubble or not..
Well let's make this straight... if you think this kind of price action isn't typically a bubble.. then you need to review your classics !
Of course this is a bubble ! The only question is when is going to burst.. That's a tricky question.. and trying to short a bubble require quite some experience.
Every trade need a technical background to support the scenario (otherwise it's just random betting.. and that's gamble.. not trading).
Using my mighty couple of indicators, PRO Sinewave & PRO Momentum, here's what I have :
We can clearly highlight 5 sell signal (confirmed by both Sinewave & Momentum). These will obviously act as resistances during the technical bounce that we may see next.
AND I SAID "MAY SEE" because so far there's not a single sign of bullish support on Sinewave and neither on Momentum.
Finally we can add the "BEAR TREND" confirmation that showed up when things started to get a little nastier !
Which means that until we manage to break a resistance, we're still bearish in term
Well let's make this straight... if you think this kind of price action isn't typically a bubble.. then you need to review your classics !
Of course this is a bubble ! The only question is when is going to burst.. That's a tricky question.. and trying to short a bubble require quite some experience.
Every trade need a technical background to support the scenario (otherwise it's just random betting.. and that's gamble.. not trading).
Using my mighty couple of indicators, PRO Sinewave & PRO Momentum, here's what I have :
We can clearly highlight 5 sell signal (confirmed by both Sinewave & Momentum). These will obviously act as resistances during the technical bounce that we may see next.
AND I SAID "MAY SEE" because so far there's not a single sign of bullish support on Sinewave and neither on Momentum.
Finally we can add the "BEAR TREND" confirmation that showed up when things started to get a little nastier !
Which means that until we manage to break a resistance, we're still bearish in term