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Posted on 14-Jan-2020 13:37
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Bitcoin broke the downtrend channel, still needs to be confirmed by closing the day over $8.4k
Current conditions are very overbought, the RSI is very high. All previous times when such levels were reached, BTC price retraced back to EMA 20 level. In today case it can be in the range $8.3k-$8.4k

The fear/Greed indicator points to greedy sentiment, which also may result in profit taking and bitcoin price drop.

Bitcoin looks bullish and overbought toronto
Bitcoin looks bullish and overbought toronto