Crypto Daily – In the short-term time frames (BTC) is starting to look overbought. However, in the weekly time frame, there are signs that upside price momentum may be returning.
Stochastic RSI – short-term signals
The Stochastic RSI is a price momentum indicator that signals overbought and oversold conditions. Looking at the Stochastic RSI for the 4-hour, 8-hour, 12-hour, and 1-day time frames, all have their indicators at the top, pointing to all of them potentially coming down over the next several days, leading to a dip in price.
It is important to bear in mind though that sometimes the Stochastic RSI lines can hang around at or near their tops for extended periods of time before coming back down.
Huge BTC buy for U.S. Spot Bitcoin ETFs
Aside from the technical analysis indicators, the actual buying and selling of Bitcoin took a change on Friday as the U.S. Spot Bitcoin ETFs recorded the 5th largest net inflow with purchases totalling 9.36K BTC,…
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