The market is swinging to more and more aggressive highs as bitcoin has traversed down the length of the macro, parabolic bull market. In a very rare event, bitcoin actually managed to break the upper parabolic curve and squeeze out a new all-time high in the upper $11,000sFigure 1 BTC-USD, 1-Day Candles, Macro Parabolic TrendAlthough bitcoin broke the parabolic trend on the smaller timescales, the chart above shows that bitcoin is still being governed by the parabolic resistance an outlier

Source and More information: Bitcoin Price Analysis A Potential Correction Could Be Coming

Author: CryptScout.com