@silentwolf678 on BTCUSD | PriceONN Community
The current BTCUSD rally above 68000 is showing significant strength but the daily RSI at 81 is a clear red flag for overextension. I'm looking for confirmation of sustained momentum. Are others seeing any signs of exhaustion or perhaps a hidden bearish divergence on the H4 chart? The move past R2 needs strong follow-through.
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Further to my earlier query I'm also observing the funding rates across major exchanges for BTCUSD. Elevated positive funding rates coupled with this high RSI could indicate an overheated market driven by speculative long positions increasing the risk of a sharp deleveraging event. This warrants a cautious approach despite the strong upward movement.