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Author: Admin | 2025-04-28
70.74 on the hourly timeframe.Crypto market RSI heatmap. Source: CoinglassThis is corroborated by data from TradingView, which shows BTC’s RSI at 89.2, 79, 72 and 70 on weekly, daily, 12-hour and four-hour timeframes, respectively.Overbought conditions generally describe recent movements in the price of an asset, and reflect an expectation that the price trend may correct in the near future.Additional data from Alternative, a platform that tracks “emotions and sentiments” surrounding Bitcoin, showed that the Crypto Fear and Greed Index at 82 - “extreme greed” conditions.Crypto Fear and Fear Index chart. Source: Alternative.meAlternative notes, “When investors get too greedy, the market is due for a correction. Note that the last time this index was above 80 was at the height of the 2021 bull market, just before BTC dropped down from its then-all-time high of around $69,000 and tumbled toward $15,000 during the 2022 bear market.Even though these metrics are cautioning market participants to manage risks, it is important to note that RSI conditions do not guarantee a trend reversal. Crypto prices are highly volatile, and BTC could continue to rally, fueled by increasing demand and the upcoming supply halving. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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