Despite the fact that Bitcoin is moving up, it is still inside the falling channel and current actions seem to be just a correction of the downward movement.
We have to pay attention to the RSI, it is overbought and also show a divergence, which tells us about the comming reversal.
Moreover, amount of LONG position is extremely high, F&G Index is quite high too. In addition, there is a gap on CME at about $3600.
However, the RSI is still lower than the previous peak, which means that there is still a chance for a growth to the top edge of the falling channel ($3730 - $3800).
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We have to pay attention to the RSI, it is overbought and also show a divergence, which tells us about the comming reversal.
Moreover, amount of LONG position is extremely high, F&G Index is quite high too. In addition, there is a gap on CME at about $3600.
However, the RSI is still lower than the previous peak, which means that there is still a chance for a growth to the top edge of the falling channel ($3730 - $3800).
If you like this idea, do not forget to put Like and subscribe to the profile, so as not to miss the update.
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