Do you know about #RSI? RSI is the Relative Strength Index and can be utilized as a confluence indicator to see when a stock/crypto is overbought/oversold. Here we can see BTC is WELL oversold and in dire need of a retracement.
BTC isn’t necessarily “in dire need of retracement” RSI is better used in confluence with other indicators, PA, etc to gauge when you should start looking for buys and sells but in this situation for example you can see RSI going above 90 while price action stays bullish keeping the RSI in the overbought range. Considering all that it’s still very reasonable for btc to continue up from where it is right now to the 24/28k range