BITCOIN IS OVERBOUGHT! RSI shows the price will go back down
To everyone that is overly exited with Bitcoin right now... Calm down!
Yes Bitcoin has rallied quite a bit for the past day, but don't jump on it too quickly because it is extremely overbought. As shown on the RSI, the price is largely above the 70 mark, meaning that people are buying excessively and that the price will soon come back down.
If you gained from the bullish movement, think about selling soon and buying again when the price will come back down because it certainly will according to the RSI.
Yes Bitcoin has rallied quite a bit for the past day, but don't jump on it too quickly because it is extremely overbought. As shown on the RSI, the price is largely above the 70 mark, meaning that people are buying excessively and that the price will soon come back down.
If you gained from the bullish movement, think about selling soon and buying again when the price will come back down because it certainly will according to the RSI.