Bitcoin is on hearth. Is it too sizzling? The place does it cool?

The value of bitcoin is sizzling. It’s purple sizzling. From the low yesterday at $40,900, the value has moved to a excessive at present of $57,449. That could be a fairly wholesome transfer in a brief time frame.

Wanting the RSI, it’s increased and in overbought situations. The RSI is even diverging. So is it time to promote.

Nicely, wanting on the every day chart, there is not a degree to lean towards till most likely close to $60000.

Drilling to the hourly chart, the run increased has run away from my favored 100 and 200 hour MAs. RSIs are additionally diverging however there may be nothing to indicate, “it is time to sell”.

To discover a degree, I’ve to drill to the 5 minute chart. On that chart, the value has moved under the 100 bar MA on that chart intraday at present, BUT stalled simply forward of the 200 bar MA on the identical chart. Till the value goes under that MA (and stays under), the sellers ought to keep away. The patrons stay in full management.

Do not fall for too sizzling. Issues can all the time get hotter. Look forward to the market value and technicals to indicate you the best way.

Be taught all about it, by watching the video above….