Bitcoin Is Becoming Dangerously Overbought!
The heading of this article must have offended Bitcoin fanatics and enthusiasts who have made money on this bull run and are being tempted into believing that the next price target will be $400 or $500. While I do not deny the possibility that Bitcoin may cross these levels, I wish to advise caution to all the Bitcoin longs that things may turn ugly very soon. The traders may benefit by exiting all their long positions and building fresh short positions. What's my basis for being a contrarian in this bull market? Four major technical considerations are telling that the cryptocurrency is....
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A recent volatile run-up in the Ethereum and Bitcoin markets has exceeded their value into “overbought” regions, as per Relative Strength Indicator (RSI). In retrospect, the RSI is a momentum indicator that measures the magnitude of recent price changes in an asset to determine its overbought or oversold conditions. Displayed as an oscillator, it can […]
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