As we have seen for the past couple of days, BTC has exploded with strength and volume we didn’t even see when we initially broke above $60,000 in May.
This time we’re seeing an extreme buying volume we suspect to be from institutions.
We’re not far from a break above our current All-Time highs, especially considering all the fundamental factors currently in the market, however, the market is not gonna make it as easy for everyone.
RSI , MACD , and general market indicators are extremely overbought on both the 4H and Daily charts, tower the Weekly remains extremely bullish.
This means that we’re likely going for a $58,000 - $58,500 correction before a significant move up.
This corrective move will be just enough to clear out most over-leveraged bulls from their positions, making space for smart money to load on their positions before breaking towards new highs.
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Best Regards, iSmashProfit™
This time we’re seeing an extreme buying volume we suspect to be from institutions.
We’re not far from a break above our current All-Time highs, especially considering all the fundamental factors currently in the market, however, the market is not gonna make it as easy for everyone.
RSI , MACD , and general market indicators are extremely overbought on both the 4H and Daily charts, tower the Weekly remains extremely bullish.
This means that we’re likely going for a $58,000 - $58,500 correction before a significant move up.
This corrective move will be just enough to clear out most over-leveraged bulls from their positions, making space for smart money to load on their positions before breaking towards new highs.
--------------------------------------------
Best Regards, iSmashProfit™
iSmashProfit
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