BTCUSDT 1H RSI 85%, correction is needed to gain new momentum
2024-09-28

BTCUSDT 1H RSI 85%, correction is needed to gain new momentum

BTC FINALLY BROKE THE RESISTANCE OF 65k, so now it sets its target at 69k. As always, the path is not usually direct and at this point, with the RSI showing signs of exhaustion, it is possible that BTC will look for the 64k corresponding to a 0.618% FIBO correction and which coincides with the base of the dynamic support of the current bullish channel. On the other hand, it could also be supported by the 65k which would now stop being resistance and become support.

It is a matter of establishing clear patterns to develop an appropriate strategy.

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I share with you my technical analysis assessments on certain stocks that I follow as part of the strategies I design for my portfolio, but I do not recommend anyone to operate based on these indications. Get informed, train yourself and build your own strategies when it comes to investing. I only hope that my comments help you on your own path :)