BTC - Use Caution
Just wanted to provide a quick update. With todays daily close we did see a bearish signal. Not only did we see a railroad track, but also the daily RSI get rejected twice off overbought conditions (70). Therefore do not be surprised if we do see a pullback from these levels.
To negate these bearish signals we need to see two things happen. The first would be closing a second candle above the 100k level. The second would be closing the daily RSI back above the 70.
To negate these bearish signals we need to see two things happen. The first would be closing a second candle above the 100k level. The second would be closing the daily RSI back above the 70.
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