In this chart we see many signals that indicates that Bitcoin is overbought and that the price will soon be corrected and go back down.
- A trendline connected 3 corrections, but then the price rallied, thinking it doesn't has to come back to the trendline, meaning it is too bullish and is overbought.
- Candlesticks broke above the Bollinger Bands (BB), meaning there is an upcoming reversal.
- RSI is above 70 (=overbought)
- Bollinger Bands %B is above 1 (=overbought)
Using the TBS Strategy, consider selling when the BB %B crosses down.
- A trendline connected 3 corrections, but then the price rallied, thinking it doesn't has to come back to the trendline, meaning it is too bullish and is overbought.
- Candlesticks broke above the Bollinger Bands (BB), meaning there is an upcoming reversal.
- RSI is above 70 (=overbought)
- Bollinger Bands %B is above 1 (=overbought)
Using the TBS Strategy, consider selling when the BB %B crosses down.