But the good news is this is only deep correction not a trend change,Sorry guys but this is what I see on the chart and history ,..
Alright, Bitcoin fanatics, gather around. đŞ Letâs talk about this shiny, overpriced digital asset thatâs climbing higher than your weekend hopes and dreams. Sitting comfortably around $104K, BTC has been flexing like it just bench-pressed the entire market. But waitâbefore you pop the champagne, there's an ugly truth on the charts.
The RSI (Relative Strength Index), that pesky little momentum indicator we pretend to care about, is whispering (actually, shouting):
âThis rally is losing steam, guys!â
RSI Breakdown: Bearish Divergence Alert đ¨
Let me put it simply for those sipping hopium đŤ :
1. Price is making higher highs. đŻ
Yes, the chart looks gorgeous. Higher highs, bullish breakoutâBTCâs flexing on all your other investments.
2. RSI? Oh, thatâs making lower lows. đ
Itâs like BTCâs price and RSI are in a messy breakup. While price is out here celebrating, RSI is sulking in the corner, screaming âIâm tired, dude!â
This is called a bearish divergence â one of the clearest signals in technical analysis that momentum is fading. When it happens, the chart says, âWatch your back.â đŹ
But BTC Broke $106K! Whatâs the Problem? đ¤
The problem, my friends, is that this climb is running on fumes. Volume is drying up, the bulls are slowing down, and RSI has already tapped out of the game.
To paint the picture clearly:
BTC price = The hero running up the hill.
RSI = The sidekick dragging his legs, wheezing like a 90-year-old after a flight of stairs.
And you know what happens when the sidekick collapses? The hero looks back, panics, and stumbles down the hill too. Sorry, but the charts donât lie.
Key Levels You Shouldnât Ignore đ
If this bearish divergence plays out (which it might, Iâm sorry), hereâs where BTC could pull back to:
$95,000: First support zone, but donât get too comfy. đ
$88,000: The 38.2% Fibonacci retracementâaka the âDid I buy the top?â support level.
$82,500: The 50% retracement. If BTC gets here, youâll hear âpanicâ trending on Crypto Twitter faster than âBREAKOUT.â
But What If Iâm Still Bullish? đ
Oh, sure, bulls, keep holding your bags while BTC flirts with $106,500 resistance. If it breaks and holds above $110,000, fineâIâll eat my words. But letâs be real:
Momentum is dying. Volume looks like a desert. The RSI is flat-out quitting. Youâre fighting gravity at this point.
Hereâs the Truth: The Smart Money Is Watching đ
While retail traders are out here FOMO-ing into âinevitable $120K predictions,â the smart money is quietly eyeing bearish divergences and placing their bets for a correction. And when BTC dips, theyâll scoop it up from your trembling hands.
Final Thoughts: Itâs Not Personal, Itâs Just the Chart
Look, I get it. The marketâs emotional. Youâre emotional. Iâm emotional! But the RSI and price donât care about your feelings. This bearish divergence isnât here to playâitâs here to warn you.
So before you dismiss this as âFUD,â just remember:
Price up, RSI down = Momentum problem.
High hopes donât beat math.
Sorry, but thatâs what the chart says. 𫡠Keep an eye on those levels, folks, or donât say I didnât warn you when BTC starts revisiting $88K.
đ Now, your moveâdo you trust the chart or roll the dice? đ˛