BTC 4H TF
potential irrational bullishness before a blow off top.
Looking here is that bitcoin infact broke out of a (a ), retested the and bounced back is infact super , probably what everybody likes to see.
We are reaching a confluence zone which is possibly the 58-60k levels, however, we’re also pretty much far away from the ribbons and the 200 and i do hope everybody learned that eventually bitcoin will retrace to that point.
eventually, this will happen, however, the more we stay up, the more the also goes up, so the bears infact have a final chance to push the price down but after that squeeze, psychologically i believe there is a little bit of capitulation going on but extreme greed now.
Scenario 1: irrational bullishness before a blow off top
Funding rates also flipped positive so keep in mind that a long squeeze may also be coming soon, don’t be surprised.