Despite the fact that Bitcoin is moving up, it is still inside the falling channel and current actions seem to be just a correction of the downward movement.
We have to pay attention to the RSI, it is overbought and also show a divergence, which tells us about the comming reversal.
Moreover, amount of LONG position is extremely high, F&G Index is quite high too. In addition, there is a gap on CME at about $3600.
However, the RSI is still lower than the previous peak, which means that there is still a chance for a growth to the top edge of the falling channel ($3730 - $3800).
If you like this idea, do not forget to put Like and subscribe to the profile, so as not to miss the update.
We have to pay attention to the RSI, it is overbought and also show a divergence, which tells us about the comming reversal.
Moreover, amount of LONG position is extremely high, F&G Index is quite high too. In addition, there is a gap on CME at about $3600.
However, the RSI is still lower than the previous peak, which means that there is still a chance for a growth to the top edge of the falling channel ($3730 - $3800).
If you like this idea, do not forget to put Like and subscribe to the profile, so as not to miss the update.
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