Bitcoin’s (BTC) daily Relative Strength Index (RSI) has climbed above 80, marking its most overbought reading since November 2024.
The move follows a ferocious multi-day rally that lifted the cryptocurrency from the low $60,000s to nearly $80,000, with the latest RSI reading signaling that a short-term pullback may be possible.
The rapid ascent began on August 19; Bitcoin gained more than 7% to approximately $69,300. The following session added another 5%, pushing the asset above $73,000. On August 21, BTC surged roughly 7% more, briefly testing levels not seen in months.
In less than a week, Bitcoin advanced more than 20%, reclaiming key moving averages (MA), including the 200-day level near $69,000. By press time, BTC was trading at $77,037, up almost 2% in the last 24 hours and 22% over the past week.
Bitcoin seven-day price chart. Source: Finbold
BTC’s in danger of retreating
Following the rally, Bitcoin’s 14-day RSI stood at 85.99, firmly in overbought territo
We współpracy z: https://finbold.com/bitcoin-just-flashed-major-crash-signal/
