BTC/USD Rally Pushes RSI Into Overbought Territory
BTC/USD extends the series of higher highs and lows from last week to register a fresh yearly high ($50329), with the recent advance in Bitcoin pushing the Relative Strength Index (RSI) into overbought territory.
BTC/USD Outlook
BTC/USD stages a five-day rally to clear the January high ($49037), and the move above 70 in the RSI is likely to be accompanied by a further advance in Bitcoin like the price action from last year.
A close above $49920 (161.8% Fibonacci extension) may push BTC/USD towards the $53630 (23.6% Fibonacci retracement) region, but the RSI may show the bullish momentum abating should it struggle to hold in overbought territory.
Failure to close above $49920 (161.8% Fibonacci extension) may curb the bullish price series in BTC/USD, with a move below $48550 (61.8% Fibonacci retracement) bringing $44130 (38.2% Fibonacci retracement) on the radar.
BTC/USD Outlook
BTC/USD stages a five-day rally to clear the January high ($49037), and the move above 70 in the RSI is likely to be accompanied by a further advance in Bitcoin like the price action from last year.
A close above $49920 (161.8% Fibonacci extension) may push BTC/USD towards the $53630 (23.6% Fibonacci retracement) region, but the RSI may show the bullish momentum abating should it struggle to hold in overbought territory.
Failure to close above $49920 (161.8% Fibonacci extension) may curb the bullish price series in BTC/USD, with a move below $48550 (61.8% Fibonacci retracement) bringing $44130 (38.2% Fibonacci retracement) on the radar.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.