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Bitcoin hits $119.5K but RSI warns a BTC price pullback is next
Bitcoin is ready for a short-term pullback and support retest as price metrics flash “overbought.” Traders warned Thursday that BTC/USD may retreat lower next after hitting six-week highs above $119,000. RSI calls for BTC price to take a break Bitcoin has gained almost 10% over the past week as bulls stage a comeback, echoing the upside in gold. Amid a trip to over $119,500 on Bitstamp, per data from Cointelegraph Markets Pro and TradingView, market participants nonetheless see the rally cooling before continuation is possible. This is due to price indicators becoming overheated. “Looking at this further, ... (full story)
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