đ„ BTC daily RSI just hit 80.7 â the highest overbought reading in months. Yet price is sitting flat at $78,707 with $2.48B in daily volume. What gives?
đ 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 â buyers are engaged, not exhausted.
đŻ The Setup:
âą Entry: $78,064 â $79,350
âą SL: $80,378 (above range â invalidation if broken to the upside)
âą TP1: $81,855 | TP2: $85,003 | TP3: $88,152
âą R:R: 1.9 â solid for a swing position
đĄ 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? đ€
#BTC #Bitcoin #DYOR
â ïž Not financial advice. Do your own research.
đ 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 â buyers are engaged, not exhausted.
đŻ The Setup:
âą Entry: $78,064 â $79,350
âą SL: $80,378 (above range â invalidation if broken to the upside)
âą TP1: $81,855 | TP2: $85,003 | TP3: $88,152
âą R:R: 1.9 â solid for a swing position
đĄ 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? đ€
#BTC #Bitcoin #DYOR
â ïž Not financial advice. Do your own research.