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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h20">Creeping towards $10,000</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h31">Bitcoin is still in a bull market </a></li></ul>
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Keith McCullough, CEO of Hedgeye Risk Management, has just cautioned bulls by pointing out that Bitcoin is currently in overbought territory.
<blockquote class="twitter-tweet">
BITCOIN: signaling immediate-term TRADE <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/overbought?src=hash&ref_src=twsrc%5Etfw">#overbought</a> within its Bullish <a rel="nofollow" target="_blank" href="https://twitter.com/Hedgeye?ref_src=twsrc%5Etfw">@Hedgeye</a> TREND (booking some gains) <a rel="nofollow" target="_blank" href="https://t.co/N2gKGLpUEY">pic.twitter.com/N2gKGLpUEY</a>
— Keith McCullough (@KeithMcCullough) <a rel="nofollow" target="_blank" href="https://twitter.com/KeithMcCullough/status/1225751231450243078?ref_src=twsrc%5Etfw">February 7, 2020</a></blockquote>
<em>image by <a rel="nofollow" target="_blank" href="https://twitter.com/KeithMcCullough/status/1225751231450243078">@KeithMcCullough</a></em>
<a rel="nofollow" target="_blank" href="#">card</a>
Creeping towards $10,000
However, BTC still remains in a bullish trend, meaning that this is only an opportunity to "book some gains" before another leg higher.
The BTC price reached an intraday high of $9,871 at 11:30 UTC on the Gemini exchange. Bitcoin has since given up some of its gains after more buyers refused to show up to the party.
<em>image by <a rel="dofollow" href="https://www.tradingview.com/chart/owgYyEJF/">tradingview.com</a></em>
At press time, the BTC price is sitting at $9,770 with the one-day relative strength index (RSI) standing at 68.73.
<a rel="nofollow" target="_blank" href="#">card</a>
Bitcoin is still in a bull market
While there is a strong possibility of a pullback in the immediate future, McCullough maintains that Bitcoin remains <a href="https://u.today/bitcoin-btc-remains-in-bullish-trend-despite-correction-hedgeye-ceo">in a bullish trend</a>. Considering that he's <a rel="nofollow" target="_blank" href="https://www.youtube.com/watch?v=86AVxAXX1ds">far from being a crypto cheerleader</a>, Hedgeye's analysis clearly has no ideological bias.
In its recent research, Fundstrat mentioned that Bitcoin was in "textbook reacceleration". The firm's analyst expected only a shallow correction to take place.
Speaking of those overbought RSI readings, they are not necessarily a harbinger of an imminent price crash. Back in April 2019, <a href="https://u.today/bitcoin-hasnt-been-this-overbought-since-its-price-reached-20000-bloomberg">U.Today reported</a> on BTC reaching its highest RSI level since December 2017, but it was only the start of last year's rally.
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Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 379)
Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array) (Line: 474)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 874)
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Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
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Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
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call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
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Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
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Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
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Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h20">Creeping towards $10,000</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h31">Bitcoin is still in a bull market </a></li></ul>
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}
Keith McCullough, CEO of Hedgeye Risk Management, has just cautioned bulls by pointing out that Bitcoin is currently in overbought territory.
<blockquote class="twitter-tweet">
BITCOIN: signaling immediate-term TRADE <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/overbought?src=hash&ref_src=twsrc%5Etfw">#overbought</a> within its Bullish <a rel="nofollow" target="_blank" href="https://twitter.com/Hedgeye?ref_src=twsrc%5Etfw">@Hedgeye</a> TREND (booking some gains) <a rel="nofollow" target="_blank" href="https://t.co/N2gKGLpUEY">pic.twitter.com/N2gKGLpUEY</a>
— Keith McCullough (@KeithMcCullough) <a rel="nofollow" target="_blank" href="https://twitter.com/KeithMcCullough/status/1225751231450243078?ref_src=twsrc%5Etfw">February 7, 2020</a></blockquote>
<em>image by <a rel="nofollow" target="_blank" href="https://twitter.com/KeithMcCullough/status/1225751231450243078">@KeithMcCullough</a></em>
<a rel="nofollow" target="_blank" href="#">card</a>
Creeping towards $10,000
However, BTC still remains in a bullish trend, meaning that this is only an opportunity to "book some gains" before another leg higher.
The BTC price reached an intraday high of $9,871 at 11:30 UTC on the Gemini exchange. Bitcoin has since given up some of its gains after more buyers refused to show up to the party.
<em>image by <a rel="dofollow" href="https://www.tradingview.com/chart/owgYyEJF/">tradingview.com</a></em>
At press time, the BTC price is sitting at $9,770 with the one-day relative strength index (RSI) standing at 68.73.
<a rel="nofollow" target="_blank" href="#">card</a>
Bitcoin is still in a bull market
While there is a strong possibility of a pullback in the immediate future, McCullough maintains that Bitcoin remains <a href="https://u.today/bitcoin-btc-remains-in-bullish-trend-despite-correction-hedgeye-ceo">in a bullish trend</a>. Considering that he's <a rel="nofollow" target="_blank" href="https://www.youtube.com/watch?v=86AVxAXX1ds">far from being a crypto cheerleader</a>, Hedgeye's analysis clearly has no ideological bias.
In its recent research, Fundstrat mentioned that Bitcoin was in "textbook reacceleration". The firm's analyst expected only a shallow correction to take place.
Speaking of those overbought RSI readings, they are not necessarily a harbinger of an imminent price crash. Back in April 2019, <a href="https://u.today/bitcoin-hasnt-been-this-overbought-since-its-price-reached-20000-bloomberg">U.Today reported</a> on BTC reaching its highest RSI level since December 2017, but it was only the start of last year's rally.
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Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
__TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
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Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array) (Line: 474)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 874)
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Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
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__TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
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Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
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Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
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Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
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Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h20">Creeping towards $10,000</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h31">Bitcoin is still in a bull market </a></li></ul>
Advertisement
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Keith McCullough, CEO of Hedgeye Risk Management, has just cautioned bulls by pointing out that Bitcoin is currently in overbought territory.
<blockquote class="twitter-tweet">
BITCOIN: signaling immediate-term TRADE <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/overbought?src=hash&ref_src=twsrc%5Etfw">#overbought</a> within its Bullish <a rel="nofollow" target="_blank" href="https://twitter.com/Hedgeye?ref_src=twsrc%5Etfw">@Hedgeye</a> TREND (booking some gains) <a rel="nofollow" target="_blank" href="https://t.co/N2gKGLpUEY">pic.twitter.com/N2gKGLpUEY</a>
— Keith McCullough (@KeithMcCullough) <a rel="nofollow" target="_blank" href="https://twitter.com/KeithMcCullough/status/1225751231450243078?ref_src=twsrc%5Etfw">February 7, 2020</a></blockquote>
<em>image by <a rel="nofollow" target="_blank" href="https://twitter.com/KeithMcCullough/status/1225751231450243078">@KeithMcCullough</a></em>
<a rel="nofollow" target="_blank" href="#">card</a>
Creeping towards $10,000
However, BTC still remains in a bullish trend, meaning that this is only an opportunity to "book some gains" before another leg higher.
The BTC price reached an intraday high of $9,871 at 11:30 UTC on the Gemini exchange. Bitcoin has since given up some of its gains after more buyers refused to show up to the party.
<em>image by <a rel="dofollow" href="https://www.tradingview.com/chart/owgYyEJF/">tradingview.com</a></em>
At press time, the BTC price is sitting at $9,770 with the one-day relative strength index (RSI) standing at 68.73.
<a rel="nofollow" target="_blank" href="#">card</a>
Bitcoin is still in a bull market
While there is a strong possibility of a pullback in the immediate future, McCullough maintains that Bitcoin remains <a href="https://u.today/bitcoin-btc-remains-in-bullish-trend-despite-correction-hedgeye-ceo">in a bullish trend</a>. Considering that he's <a rel="nofollow" target="_blank" href="https://www.youtube.com/watch?v=86AVxAXX1ds">far from being a crypto cheerleader</a>, Hedgeye's analysis clearly has no ideological bias.
In its recent research, Fundstrat mentioned that Bitcoin was in "textbook reacceleration". The firm's analyst expected only a shallow correction to take place.
Speaking of those overbought RSI readings, they are not necessarily a harbinger of an imminent price crash. Back in April 2019, <a href="https://u.today/bitcoin-hasnt-been-this-overbought-since-its-price-reached-20000-bloomberg">U.Today reported</a> on BTC reaching its highest RSI level since December 2017, but it was only the start of last year's rally.
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Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h20">Creeping towards $10,000</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h31">Bitcoin is still in a bull market </a></li></ul>
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Keith McCullough, CEO of Hedgeye Risk Management, has just cautioned bulls by pointing out that Bitcoin is currently in overbought territory.
<blockquote class="twitter-tweet">
BITCOIN: signaling immediate-term TRADE <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/overbought?src=hash&ref_src=twsrc%5Etfw">#overbought</a> within its Bullish <a rel="nofollow" target="_blank" href="https://twitter.com/Hedgeye?ref_src=twsrc%5Etfw">@Hedgeye</a> TREND (booking some gains) <a rel="nofollow" target="_blank" href="https://t.co/N2gKGLpUEY">pic.twitter.com/N2gKGLpUEY</a>
— Keith McCullough (@KeithMcCullough) <a rel="nofollow" target="_blank" href="https://twitter.com/KeithMcCullough/status/1225751231450243078?ref_src=twsrc%5Etfw">February 7, 2020</a></blockquote>
<em>image by <a rel="nofollow" target="_blank" href="https://twitter.com/KeithMcCullough/status/1225751231450243078">@KeithMcCullough</a></em>
<a rel="nofollow" target="_blank" href="#">card</a>
Creeping towards $10,000
However, BTC still remains in a bullish trend, meaning that this is only an opportunity to "book some gains" before another leg higher.
The BTC price reached an intraday high of $9,871 at 11:30 UTC on the Gemini exchange. Bitcoin has since given up some of its gains after more buyers refused to show up to the party.
<em>image by <a rel="dofollow" href="https://www.tradingview.com/chart/owgYyEJF/">tradingview.com</a></em>
At press time, the BTC price is sitting at $9,770 with the one-day relative strength index (RSI) standing at 68.73.
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Bitcoin is still in a bull market
While there is a strong possibility of a pullback in the immediate future, McCullough maintains that Bitcoin remains <a href="https://u.today/bitcoin-btc-remains-in-bullish-trend-despite-correction-hedgeye-ceo">in a bullish trend</a>. Considering that he's <a rel="nofollow" target="_blank" href="https://www.youtube.com/watch?v=86AVxAXX1ds">far from being a crypto cheerleader</a>, Hedgeye's analysis clearly has no ideological bias.
In its recent research, Fundstrat mentioned that Bitcoin was in "textbook reacceleration". The firm's analyst expected only a shallow correction to take place.
Speaking of those overbought RSI readings, they are not necessarily a harbinger of an imminent price crash. Back in April 2019, <a href="https://u.today/bitcoin-hasnt-been-this-overbought-since-its-price-reached-20000-bloomberg">U.Today reported</a> on BTC reaching its highest RSI level since December 2017, but it was only the start of last year's rally.
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Arman Shirinyan
Denys Serhiichuk
