Morning folks,
Well, rally looks great, but absolutely unnatural and has no relation to normal market dynamic. It is pumped externally. This is not a surprise when 80% of spot market and all transactions and depository operation stand in one hands. Bubble? Yes, but it is not totally ripen yet, need some time to grow more...
Our setup has worked perfect whatever you've done - either use Stop "buy" order for breakout or just bought near the lows of our consolidation. Our next upside targets are 70K, i.e. previous top and 80-85K.
Now price is at overbought and it makes sense to wait for some relief. We will be watching DiNapoli patterns, based on the thrust - either DRPO "Sell" or B&B Buy.
It seems that any analysis of BTC market very soon will become useless, because it is not controlled by market natural force any more, it is concentrated and market goes with the direction that BlackRock& Co will choose.