Bitcoin is double topping breaking upward a day push, as I write. Was Wednesday that the ' Death Throe ' candle, and will this dual top, if it holds, be significant?

As a strict technical adviser, I cannot honestly see how Bitcoin can keep on climbing as it has recently been performing with no significant pullback, even an entire collapse. I know that it is unlike any other market being traded at this time, but if human character, that after all is the only factor that drives the markets, can be used as a guide, then logically, this monster must come down, and come down hard, and I write this today, because we are now seeing Bitcoin begin to unravel.

Price always returns to its 200 day moving average, always. Look anywhere and you will see this to be authentic.

Bitcoin is indeed far over its Daily 200 day simple and exponential moving averages today, that it sounds impossible to me that it could keep on climbing without coming way back, and I mean straight back to 10,000 or reduced. The record breaking move, the one day candle a 3,761 rise, at its own history of yesterday, could well be a ' Death Throe ' candle that signals the top or bottom of a marketor otherwise.

These Death Throe candles could be seen on any market, on any given time period, I myself look out for these, for they often signal the end of a fashion. They are typically much longer than any candle, and I've drawn attention to them rather a few times before in my threads. The simple fact that the price sold off instantly following yesterday's candle closed is quite significant.

Time will tell. - A narrative comment from last Thursday of mine.

Can the correction, when it comes, turn into a selling rout as holders of Bitcoin rush to ensure the profits they've made?

It may take some time to unravel, however off a rejection of last week's high could well open the door to a fairly significant selling pressure.

This is not a forecast, just an observation of what may unravel, but of course, that is Bitcoin, and because it's been doing each time it's pulled back, it is bought to new levels.