Good evening everyone, I hope you are glued to your screens eating popcorn watching and enjoying the meteoric rise of $BTC.
Throughout this week we have been witnessing an astonishing rally of the crypto king. Step by step, but steadily, it has been climbing the steep summit that separates it from the top.
However, now it is time for him to rest, he needs to recover his strength to face his last challenge, to plant his flag a little further than anyone else has ever done before and to rewrite history.
But just like a climber, he cannot ascend too quickly, otherwise he would risk suffering from so-called "altitude sickness" and running out of air. His system would start to fail and his journey would continue, but in the opposite direction. That is why he needs to stabilise himself for a while, a short but necessary time, because at the top awaits the greatest barrier ever built and to overcome it, he needs strength, drive and the support of the whole community.
There are currently over 1000 BTC in sell orders between 69500 ââand 70000. They may or may not be real, but they are there right now and there are still no surprises from the big players.
For the moment it has managed to overcome the barrier of 68,300 that seemed insurmountable two weeks ago and I sincerely believe that it will also be able, sooner or later (with a tendency towards before), to knock down the door of 70 and challenge its ATH before the end of November.
However, what I want to convey with this article, and this is important, is that you should be cautious. Don't get carried away by euphoria (yet). Secure your portfolios and don't take unnecessary risks.
More important than making money is not losing it. This is a piece of advice I have learned by losing money and to console myself when I look at my bank account I tell myself that I have learned a lot...
BTC is very strong, there are several present and future reasons to be bullish and even a little dreamy, but we are not there yet.
If you have been on this journey for the past 6 months, I just ask that you hold on a little longer. If you are new, then I recommend you do not buy now because when BTC hits 70K you are going to see a very long red candle. It may retrace to the 0.618 Fibonacci (around 65500 - 66300) and bounce back up or it may melt down to the bottom of the channel as it has done repeatedly before.
What will happen? Well, I can't say for sure, but I'm really looking forward to finding out and I have the feeling that there are only a few episodes left before this season ends and a new one begins.
Are you going to miss it?
