When you go to CNBC and regularly see headlines about BTC rallies, you know that there is some over exuberance. Chart tells me the same thing. Clearly bullish but not a time to be buying. Recent breakout certainly offered opportunity but still too aggressive and risky for my tolerance. Therefore I am watching the 27500 area for reversal and then a retrace to the 18500-19500 area
is what I’m expecting. We will of course need to see price action consistent with a bullish reversal for a swing trade long at that time. Of course it can go higher from here but just not an area that I am entering.