Keep in mind that time I said BTC-USD likely won't see another untouched high (ATH) at any point in the near future? It would appear that I wasn't right. Not long after posting my past BTC-USD examination, in a matter of 60 minutes, the cost of BTC-USD broke its record high, as well as it outperformed it by $200 after at last settling in the $3200s. As of at the beginning of today, BTC-USD pushed another ATH of $3440 on Bitfinex denoting a $600+ in under seven days. How about we investigate what these moves can mean for BTC-USD and if these moves are feasible.

Beginning in the $160s, BTC-USD has been on a gigantic, multi-year bull run

On the off chance that we plot the pattern utilizing $3440 as the highest point of this pattern, a great deal of noteworthy help and resistance levels begin to bode well inside the setting of the market. Our turn to the $1800s denoted a trial of the half retracement line, our fight over the $2600s denoted the different trial of the 23.6% retracement line and now our definitive sudden race to new highs can be viewed as the 100% retracement line.

Keeping the same Fibonacci Retracement Lines and zooming into our day by day slant, a couple of perceptions instantly fly out

There is a conspicuous cost increment on the long haul slant;

Our current keep running from $1800, in any case, has seen diminishing volume on each leg up;

The multi-period MACD and current MACD histogram both show Bearish Divergence; and

The RSI is demonstrating Bearish Divergence.

On the off chance that we investigate the market post-$1800s, we see a comparable pattern of disparity even on the littler timescales

The uptrend in cost is, by and by, went with on diminishing volume;

The 6HR is unequivocally separating bearishly;

The RSI is demonstrating solid bearish disparity; and

The 6HR Bollinger Bands demonstrate a few candles full fledged outside the upper band (appeared in the circle).

For the individuals who are new to Bollinger Bands: Simply put, they are a solid device used to picture showcase instability. Regularly, when a market is close to the edge of the upper band, it is considered "overbought," and when it nears the edge of the lower band it is considered "oversold." When a market punctures a band it will normally yield a pullback to a pattern inside the groups, and when a light is totally framed outside the groups it is typically a solid offer or purchase flag — an offer flag for our situation. You can think about the Bollinger Bands like an arrangement of elastic groups: the more tightly you extend an elastic band, the harder the response. Regularly, this is the situation for business sectors that cut the groups and particularly for those that completely shape candles outside the groups.

Taking a gander at our current Bollinger Band incline, one may be enticed to state, "BTC-USD has all the earmarks of being pulling back inside the 6-Hour Bands — resembles a solid move upward is still probable." However, in the event that we zoom out and think back through the historical backdrop of BTC-USD and its communication with the 1-Day Bollinger Bands, we can see a reasonable market slant