$BTC IS SETTING UP THE SAME TRAP FOR A THIRD TIME
RSI just broke above 77 on the daily
That number matters because the last two times it got here, the rally died within days
First time was near 97k
Sentiment went full send, then price dropped over 35% straight after
Second time was near 80k
Same story - hope came back, RSI spiked, and the floor gave out again
Now we're back at the same overbought reading, except this time price is starting from a lower base
That's the part traders keep skipping past
Each bounce in this cycle has topped out lower than the one before it
Lower highs don't care how strong a single green candle looks
Right now this move is doing exactly what the last two did before they failed
Don't fall for this again!
Be sure to follow me so you don't miss other important updates.
$BTC
RSI just broke above 77 on the daily
That number matters because the last two times it got here, the rally died within days
First time was near 97k
Sentiment went full send, then price dropped over 35% straight after
Second time was near 80k
Same story - hope came back, RSI spiked, and the floor gave out again
Now we're back at the same overbought reading, except this time price is starting from a lower base
That's the part traders keep skipping past
Each bounce in this cycle has topped out lower than the one before it
Lower highs don't care how strong a single green candle looks
Right now this move is doing exactly what the last two did before they failed
Don't fall for this again!
Be sure to follow me so you don't miss other important updates.
$BTC