Bitcoin Overbought Above $12K But Analysts Understate Drop Fears
Bitcoin rose above $12,000 on Wednesday for the first time since August 2020 but signaled an imminent price correction as it entered a so-called “overbought” area. The readings on Bitcoin’s 14-day Relative Strength Index pushed above 70, a level above which an asset’s bullish trend is considered overstretched. While that does not signify a price crash, it certainly indicates that the crypto may undergo consolidation or a minor retracement at best. The last three RSI […]
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