Bitcoin at $79K โ but the daily RSI just hit 80.6. That is screaming overbought. ๐จ
Here is what I see: BTC pulled back 2.16% today while sitting on a massive uptrend. The 4H MACD is still positive with expanding histogram, and price is holding above both SMA7 and SMA25 on the daily. Volume is declining though โ only 0.7x average. That is the yellow flag.
๐ Why This Trade?
The trend is your friend until it bends. BTC weekly structure is bullish, SMA7 daily at $77.5K is acting as dynamic support, and MACD daily histogram is still expanding. But RSI above 80 on the daily means mean reversion risk is real. This is a "ride the trend but tighten your leash" setup.
๐ฏ Trade Plan:
โข Entry: $78,390 โ $79,687 (current consolidation zone)
โข Stop Loss: $77,353 (below SMA7 daily โ if this breaks, structure changes)
โข TP1: $82,200 | TP2: $85,362 | TP3: $88,524
โข Risk/Reward: 1.9
The smart play: scale in on dips to SMA7, take partials at TP1, let runners ride.
โ BTC at $79K feels expensive but the trend says higher. Are you adding here or waiting for a pullback to $75K? Drop your strategy below ๐
#BTC #CryptoTrading #DYOR
โ ๏ธ Disclaimer: This is not financial advice. Crypto is volatile. Always do your own research and manage risk responsibly.
Here is what I see: BTC pulled back 2.16% today while sitting on a massive uptrend. The 4H MACD is still positive with expanding histogram, and price is holding above both SMA7 and SMA25 on the daily. Volume is declining though โ only 0.7x average. That is the yellow flag.
๐ Why This Trade?
The trend is your friend until it bends. BTC weekly structure is bullish, SMA7 daily at $77.5K is acting as dynamic support, and MACD daily histogram is still expanding. But RSI above 80 on the daily means mean reversion risk is real. This is a "ride the trend but tighten your leash" setup.
๐ฏ Trade Plan:
โข Entry: $78,390 โ $79,687 (current consolidation zone)
โข Stop Loss: $77,353 (below SMA7 daily โ if this breaks, structure changes)
โข TP1: $82,200 | TP2: $85,362 | TP3: $88,524
โข Risk/Reward: 1.9
The smart play: scale in on dips to SMA7, take partials at TP1, let runners ride.
โ BTC at $79K feels expensive but the trend says higher. Are you adding here or waiting for a pullback to $75K? Drop your strategy below ๐
#BTC #CryptoTrading #DYOR
โ ๏ธ Disclaimer: This is not financial advice. Crypto is volatile. Always do your own research and manage risk responsibly.