The chart marks previous Bitcoin tops with orange circles, aligning with Stochastic RSI overbought signals.
Every cycle top (2013, 2017, 2021) showed similar patterns of high price and overbought RSI
Right now btc is over sold creating a cross to the upside while btc has held strong above 80k
For a push to new highs we need to see btc show strength with a long candle on the weekly while the rsi moving up slower to show buyers are coming back in.
If we see btc push up but the rsi reaches the overbought and crosses befor btc can reach a new all time high i would say the top is in.
Every cycle top (2013, 2017, 2021) showed similar patterns of high price and overbought RSI
Right now btc is over sold creating a cross to the upside while btc has held strong above 80k
For a push to new highs we need to see btc show strength with a long candle on the weekly while the rsi moving up slower to show buyers are coming back in.
If we see btc push up but the rsi reaches the overbought and crosses befor btc can reach a new all time high i would say the top is in.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.