After BTC price rose to 70k zone due to many liquidations of short positions, it has reached level of resistance. On 15m chart there is overheating of RSI. For me a double or triple wick through 70 zone on RSI is a confirmation of a downtrend.
It's needed to say that if in a few hours time, if RSI goes over 75 it can lead BTC in another pump towards an new ATH which would again trigger sells.
I expect price to attack 71800 zone once more and then a hard rejection towards 68k, then retest of 70k and back to 64k zone.
I would avoid overleveraging and i'd keep stop-loss around 72500.
Disclaimer: This is not financial advice. Please DYOR and trade accordingly.
It's needed to say that if in a few hours time, if RSI goes over 75 it can lead BTC in another pump towards an new ATH which would again trigger sells.
I expect price to attack 71800 zone once more and then a hard rejection towards 68k, then retest of 70k and back to 64k zone.
I would avoid overleveraging and i'd keep stop-loss around 72500.
Disclaimer: This is not financial advice. Please DYOR and trade accordingly.