BTC at $79K and RSI is screaming overbought on the daily — but here's why the bulls aren't done yet 🧵
Bitcoin just pushed through $79,128 with $2.75B in daily volume. The 4H chart shows price riding above both SMA7 ($79,238) and SMA25 ($77,800), while the daily RSI sits at 82.4 — firmly in overbought territory.
But here's the thing: overbought doesn't mean top. In strong trends, RSI can stay elevated for weeks. MACD histogram is expanding on both 4H and daily, and volume is 23% above average.
📋 Trade Plan:
• Entry: $78,471 - $79,785 (pullback to 4H SMA zone)
• Stop Loss: $80,835 (above recent high — invalidation)
• TP1: $82,293 | TP2: $85,458 | TP3: $88,623
• R:R = 1.9
The risk? Daily RSI divergence could trigger a sharp flush. Keep stops tight.
Are you adding here or waiting for a dip to $75K? 👇
#BTC #Bitcoin #DYOR
⚠️ Not financial advice. Always DYOR and manage risk.
Bitcoin just pushed through $79,128 with $2.75B in daily volume. The 4H chart shows price riding above both SMA7 ($79,238) and SMA25 ($77,800), while the daily RSI sits at 82.4 — firmly in overbought territory.
But here's the thing: overbought doesn't mean top. In strong trends, RSI can stay elevated for weeks. MACD histogram is expanding on both 4H and daily, and volume is 23% above average.
📋 Trade Plan:
• Entry: $78,471 - $79,785 (pullback to 4H SMA zone)
• Stop Loss: $80,835 (above recent high — invalidation)
• TP1: $82,293 | TP2: $85,458 | TP3: $88,623
• R:R = 1.9
The risk? Daily RSI divergence could trigger a sharp flush. Keep stops tight.
Are you adding here or waiting for a dip to $75K? 👇
#BTC #Bitcoin #DYOR
⚠️ Not financial advice. Always DYOR and manage risk.