Bitcoin shattered through $15K like a bullet through a glass window! Here we are now at $15,566 USD as BTC looks at the next level to break. At this rate we could see a push to a new all time high before the end of the year.
Is this likely though? 🤔
Current indicators suggest that we may see a pullback soon or at least a cool down and some sideways movement.
Here's what we're watching :
• Right now the price has broken the upper band of the Bollinger Bands, this suggests we're overbought.
• The RSI (Relative Strength Index) is above 80, this also suggests we're overbought.
• Finally, the volume has seen a large boost over the last few weeks but the question is whether or not it's sustainable.
Of course these factors can be (and have been) overshadowed by Bitcoin in it's parabolic stages before.
One thing is certain, BTC has potential to make millionaires out of hodlers and it's showing that again right now!
Keep watching the charts! 📈
Please note : this is opinion and should not be taken as financial advice.