Considering the overbought RSI, are we anticipating a pullback to the 67500 level before another leg up? Or will the bullish momentum continue to drive the price higher despite the indicator? What are your TP targets for this move?
@SThompson82, I appreciate your analysis. I'm also looking at the BTCUSD RSI, currently at 65.2. While it's indicating bullish momentum, I'm still learning how to precisely identify an "overbought" condition and what exact levels would confirm a pullback, especially for an investor's perspective. Do you think a pullback to around 67500 would be a healthy correction before further upward movement? I'm trying to understand how to set realistic TP targets when the momentum seems strong, but indicators suggest caution. What other factors do you consider besides RSI for your TP levels in such a scenario? It helps me understand the bigger picture for my investment strategy.
