BTC tf 1w

RSI is not the most reliable indicator for entering a position, but pay attention and look at the strength of the trend.

On the weekly time frame we have a classic divergence, the 2nd peak on the indicator is slightly lower than 1.

The strength of the trend on a large time frame is no longer the same as when we were in the range of $35,000-45,000. Based on divergence, we can make several more peaks, but with a greater probability we will reach these goals. In order to break this diversion (and they break often in the crypto market), BTC needs to approach 60-65k on a weekly tf.

With such growth in BTC, a correction of 15-20% is quite 👌 natural for further growth.

The index of fear and greed has been at the levels of greed, extreme greed every day since October.

☝️These are not the most primary metrics for entering a short position, but simply warnings for those who like to long the market without stops.

By the way - at $47,000, everyone who longed with 10 leverage a weekly flat of 51-52, they will also be gone quickly.

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