The PayPal news has no doubt sent Bitcoin flying high... and while we're happy to see it move up it's important to note that in the short term, we're moving up a bit too fast! In other words, expect a slight pullback soon.
We've broke out above the upper Bollinger Band now and the current candle is completely clear of the bands. Historically when this happens we see a pullback. The good news is that it doesn't have to be a big one!
When we see pullbacks after a breakout like this, they are sometimes strong and sometimes weak. When they are weak pullbacks, we generally go sideways for a bit and then move up again!
So, let's hope that when a pullback comes it's a weak one!
Keep watching the charts! 📈
Please note : this is opinion and should not be taken as financial advice.