- btc s'been na' tear throughout the past few weeks, with its price action heating up as bulls try to flip $40,000 into a support lvl
- if the crp continues holding above this previous resistance, it ‘d allo for significantly further upside inna dys and weeks ahead
- one analyst explained that although it seems like btc’s rally maybe over-extended, its risk-adjusted returns are on-par with how where they are historically
- as such, there’s a strong possibility that the crp ‘d see significantly further upside b4 it reaches a point of exhaustion
- once its returns are drastically higher than its risk-adjusted returns ‘ve been historically, then the crp maybe at risk of posting a 2017-style blooff top
one on-chn analyst stated that although the benchmark crp is seeing some intense momentum, its rally maybe far from bein’ over-heated.
btc holds above $40,000 as uptrend continues
atta time of writing, btc is trading down marginally at its current price of $40,300. this is round where it s'been consolidating throughout the past few dys.
t'has made a few attempts to rally inna'da mid-$40,000 region, but each one s'been met with serious selling pressure that has sloed its ascent.
its reaction to $50,000 – ‘d this lvl be tested – will likely offer significant insites into just how long-lasting this parabolic ascent ll'be.
on-chn analyst: btc risk-adjusted returns indicate upside is imminent
he seems to liv'dat, til these risk-adjusted returns become exorbitantly higher than usual, t'has room to rally.
image courtesy of willy woo.
featured image from unsplash. charts from tradingview.
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