Looking at the daily cycle low lines, I hesitate to take further long positions until a major retracement low. (Maybe a retracement of $1000-2000 even extending down to 5000s.)
I did not measure the angles on the chart, but it is visually obvious that the cycle low slope is steep enough to call for a major retracement. If I am wrong, that means that the market is over-bullish beyond my expectations.
Volume & CMF_ indicators also confirm the exhaustion of bitcoin bulls. In my opinion it is not wise to take short position is such a bull market, instead it is better to wait for a dip point to long again.
I did not measure the angles on the chart, but it is visually obvious that the cycle low slope is steep enough to call for a major retracement. If I am wrong, that means that the market is over-bullish beyond my expectations.
Volume & CMF_ indicators also confirm the exhaustion of bitcoin bulls. In my opinion it is not wise to take short position is such a bull market, instead it is better to wait for a dip point to long again.