Bitcoin has made history again, surging to an unprecedented high of $90,000. This impressive milestone has left many investors and enthusiasts in awe. However, technical indicators suggest BTC is currently overbought, signaling a potential cooling period.
Key Indicators
1. RSI: 95.4 (4-hour timeframe) and 93.9 (1-day timeframe), indicating overbought conditions.
2. Channels: Two key channels formed - an ascending (green) and descending (red) channel.
Possible Scenarios
1. Green Scenario: BTC may fluctuate between $88,000-$89,000, with potential support at $86,000.
2. Red Scenario: BTC may experience a strong pullback to $84,000-$82,000.
Considerations
1. Altcoins: Top 25-30 altcoins with strong fundamentals offer potential for significant returns.
2. Risk Management: Manage risk; crypto markets experience natural cycles of ups and downs.
3. Research: Conduct thorough research; this analysis is not financial advice.
Current Market
BTCUSDT Perp: $87,532.9 (-1.06%)
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