$BTC was due for a correction around 85–88k.
Will the alts withstand such a correction? I think not really, which suggests that it might be wise to take profits on almost everything right now. Then, after the correction, look for buying opportunities.
It is very difficult to believe in fairy tales and continuous growth.
An RSI at high levels can indicate an overheated market, and from a technical analysis perspective, a correction to the 0.618 Fibonacci level is a fairly typical scenario following an impulsive upward move. Bitcoin tends to favor the 0.618 Fibonacci zone. This can help the price “cool down” and gather strength for possible further growth.
We should anticipate one of two scenarios:
1. A small local correction toward the 0.618 level, where we might see buyer reaction and confirmation of support.
But!
2. If the correction is deeper, it may signal a more prolonged consolidation before attempting to reach new highs again.
In any case, a correction down to the 0.618 level is a completely natural process of market fluctuations after significant growth.