In the , Bitcoin is way overbought, as you can see by the signal. And it is even breaking the upper in a moon shoot kind of stile, which is impressive. Next target is $7,000 dollars.
I don´t know, but such a move, after a such an extended rally, with such overbought levels. I really don’t see how this could last past these week, I really don’t.
In a previous post, I said that I didn’t think it was worth pursuing it past the $6,000-dollar mark, even if it could hit the $7,000-dollar mark in the short term. And I still sustain that. When the correction comes, it should be a few thousand points, maybe to $5,000 or $4,000, we will see.
I’ll rather be out for now and wait for a deep correction to get back in. And if I missed the last $1,000 dollars of the rally, well, so be it.
Good luck in your decisions
And with the Segwit 2X comming up next week, probably on Thursday, November 16 of this year. Then an expected scenario would be for Bitcoin to fall to the $6,700 mark, and then rise to new highs next week, and finally top out close to the $8,000 dollar mark.
That is the scenario that I’m expecting right now.
Good Luck in your decisions