What an impressive day for Bitcoin! The price broke through the mental barrier at $30k and instantaneously rallied to $33k before seeing a small pullback. With the price of Bitcoin seemingly only wanting to go up, we should take a minute to pause and consider where we are in the grand scheme of what a textbook bubble may ultimately look like. Predicting the exact top is not a feasible task, but taking profits can be a way to guarantee a return in the event of a stronger correction. In this video we discuss various levels of over-valuation and show we are as extended as we were in 2019 based on our logarithmic regression analysis. TA Video by Benjamin Cowen.
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