🚨 Crypto Alert for 2024: Trading Insights and Cautions 🚨

Hey Binance Fam,

As we navigate the exciting world of crypto in 2024, here's a quick heads-up on what to watch out for:

1. Think Twice Before Trading Memecoins: While Dogecoin (DOGE) and Shiba Inu (SHIB) have had their fun moments, remember the dramatic rise and fall of Pepe (PEPE) in 2023? It's a reminder to tread carefully with memecoins.

Caution with Overbought Cryptos: A recent analysis revealed some non-meme coins with high RSIs, indicating they might be overbought:

Filecoin (FIL): Current RSI readings suggest it's in the overbought zone.

Internet Computer Protocol (ICP): Shows similar overbought trends.

BitcoinSV (BSV): Despite a recent drop, it's still considered overbought.

Perpetual Protocol (PERP): Overbought across multiple time frames.

These coins are showing signs of potential price retracements, so it's wise to be cautious.

Key Takeaway: In the dynamic and speculative crypto market, knowing which coins to avoid can be as crucial as knowing which ones to invest in. Always keep an eye on key indicators and understand the risks involved.

Stay smart, stay informed, and let's make 2024 a year of savvy investing!