🔥 BTC daily RSI just hit 80.7 — the highest overbought reading in months. Yet price is sitting flat at $78,707 with $2.48B in daily volume. What gives?
📊 The Picture:
Price holding near ATH territory with a strong daily uptrend. MACD histogram is expanding (+743), and the 4H chart shows price comfortably above both the 7-day and 25-day MAs.
But here is the tension: daily RSI at 80.7 screams "overextended," while the 4H RSI at 61.6 says "still room to run."
Volume is 1.42x above average — buyers are engaged, not exhausted.
🎯 The Setup:
• Entry: $78,064 — $79,350
• SL: $80,378 (above range — invalidation if broken to the upside)
• TP1: $81,855 | TP2: $85,003 | TP3: $88,152
• R:R: 1.9 — solid for a swing position
💡 My take: this is a HOLD for existing longs, not a fresh entry. The risk of a mean-reversion pullback is too high at this RSI. If you are not in, wait for a dip to the 7-day MA (~$76,170).
Are you buying here or waiting for a correction? 🤔
#BTC #Bitcoin #DYOR
⚠️ Not financial advice. Do your own research.
📊 The Picture:
Price holding near ATH territory with a strong daily uptrend. MACD histogram is expanding (+743), and the 4H chart shows price comfortably above both the 7-day and 25-day MAs.
But here is the tension: daily RSI at 80.7 screams "overextended," while the 4H RSI at 61.6 says "still room to run."
Volume is 1.42x above average — buyers are engaged, not exhausted.
🎯 The Setup:
• Entry: $78,064 — $79,350
• SL: $80,378 (above range — invalidation if broken to the upside)
• TP1: $81,855 | TP2: $85,003 | TP3: $88,152
• R:R: 1.9 — solid for a swing position
💡 My take: this is a HOLD for existing longs, not a fresh entry. The risk of a mean-reversion pullback is too high at this RSI. If you are not in, wait for a dip to the 7-day MA (~$76,170).
Are you buying here or waiting for a correction? 🤔
#BTC #Bitcoin #DYOR
⚠️ Not financial advice. Do your own research.