Looking at the previous instances in the last 6 months that RSI has been this overbought, everytime it has immediately had a sharp dip.
One concerning factor is the delay how it has consolidated now for a few semi-tight closes but the R/R ratio 4/1 compensates for that.
Price target 1 if it reversed would be the point of control, although another more ambitious target would be waiting for the RSI to get oversold.
One concerning factor is the delay how it has consolidated now for a few semi-tight closes but the R/R ratio 4/1 compensates for that.
Price target 1 if it reversed would be the point of control, although another more ambitious target would be waiting for the RSI to get oversold.