A few days ago I mentioned that bitcoin was riding a steep wave higher and that wave was the 10 day moving average (which ironically I have in blue).
At that time price was consolidating and the 10 day had caught up, and worries of a pullback were short-lived as price has skyrocketed of the 10 day once again.
We know anything can happen, but it looks like we just got the latest of a spring higher and then rest to caught a breath type of move.
Granted, FOMO can kick in at any time and price could go vertical just as a big whale could dump and drive price lower. Outside of those two extremes I'd expect price to consolidate again soon, even if it does push higher another day or two.
I'd prefer not seeing price get to overbought since that generally leads to violent price pullbacks.
Either way, the full bull mode of Bitcoin is still intact for now!
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