When will bitcoin top out?It\u2019s the season where technical analysis seemingly loses some of its relevance as bitcoin, ethereum, and altcoins continue to slice through prices like a knife cutting through butter.However, nothing goes up in a straight line forever, and a \u2018blow-off top\u2019 will eventually come.During the 2019 mini bull cycle when bitcoin ground to a halt at $14,000, price-action was accompanied by abnormally high trading volume and large wicks to the upside. Similar scenarios were also observed when bitcoin broke down below $6,000 in 2018 and on black Thursday earlier in March.Should the parabola cease its incline just under $20,000 or within the $21,000 vicinity, then one can expect the 2019 high ($14,000) to be tested for support. Typically, price trends back towards the macro breakout level before continuing the climb.Bitcoin is no different in this respect. Ultimately, a market is made of people and the primal motivators are fear and greed. Once the market swings well into one direction, the pendulum eventually shifts to the other side with equal force.During this rally, a running theme on the telegram channel was to \u2018take profits on the way up\u2019 and to keep enough capital to buy back in when the time is right .i.e. when there\u2019s blood in the streets. No doubt, this incoming red wave will be accompanied by another news cycle filled with fear, uncertainty and doubt, and I suspect government crackdowns and CBDC\u2019s will also have a part to play.Irrespective of what is said here though, weak hands will sell into firm hands.Rest assured, that a corrective period is coming though no matter what your favourite influencer on crypto twitter says. Best practice dictates that you continue to ride the wave to the upside while protecting yourself from losing capital gains.Levels to watch:$17,600 parabola support20-daily-EMA $16,700\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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