I've been trying to forecast BTCUSD patterns by looking at a straight trend line but decided to redraw it as a parabolic curve, which is basically what it is.
Extrapolating the parabolic curve and the top trend line, it looks like they may meet at $9500-10k where I would expect it to be the sell point to cool off this parabolic rise.
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BTCUSD facing strong resistance at $7985, now down to $7800 as RSI was about to indicate overbought.
Looks like we will see some investors taking profit for the day and BTC could retest $7000 tomorrow before resuming the parabolic run.
The dotted blue line requires attention. If BTCUSD breaks that line, things will go crazy.
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Still some steam to move up. Looks like $8400 is the point where we may see RSI indicating overbought and BTCUSD coming to a small correction, likely back to $8000.
We're still trading inside the wedge.
Trade geschlossen: Ziel wurde erreicht
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It seems like I was wrong about the top, but not about the final run. Bear market coming?