BTC - NEXT: Extremely Overbought, RSI hits 102

2023年10月24日

Hi Traders, Investors and Speculators of Charts📈📉

I'm expecting some more volatility on Bitcoin as the RSI recently 102 which indicates and extremely over bought market. This is also confirmed by the technical indicator. Usually, after such extreme numbers are hit on the RSI, the price needs to "cool down" or retrace before continuing back upwards. This could mean lower price action for a few days ahead.

It's vital that we retrace back towards the 32k zone to CONFIRM this as new support, and not a fakeout. Two scenarios I have highlighted on the chart is either straight up to the 1.618 and then the support confirmation, or first support confirmation and then up to 1.618.

Either way, I'm bullish on BTC and I'll be looking to take a long from support at 32k.


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CryptoCheck

2023年10月26日

註釋

BTC is about to make the bullish cross in the weekly!