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via Cointelegraph · By Cointelegraph Staff

Bitcoin’s ‘Overbought’ RSI Hints at BTC Price Dropping to Test $78K

BTC

BTC/USDT

$79,808.00

-0.03%

$79,808.00

-0.03%

(24s)

24h Volume

$7,140,159,817.35

24h H/L

$80,107.99 / $79,233.00

Change: $874.99 (1.10%)

Long/Short

53.1%

Long: 53.1%Short: 46.9%

Funding Rate

+0.0027%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,944.00

▲ 0.14%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$81,908.22

Resistance 1$80,157.58

Price$79,944.00

Support 1$79,635.96

Support 2$77,455.78

Support 3$73,033.65

Pivot (PP):$79,824.58

Trend:Sideways

RSI (14):67.0

Cointelegraph Staff

(03:35 PM UTC)

1 min read

Updated byJames Mitchell

0 comments

Bitcoin (BTC) traders expect a short-term correction as a key BTC price strength metric rises to its highest levels in almost fifteen weeks.

Key takeaways:

Bitcoin’s “overbought” RSI historically precedes significant corrections.
Bitcoin could see a short-term price drop if the price breaks below the $78,000 support.

Bitcoin metrics suggest BTC price is “overheated”

Bitcoin’s 36% rally to $82,800 on…

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Source

Cointelegraph Staff · Cointelegraph

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