Bitcoin Nears All-Time High But Overbought Conditions Spark Correction Fears
• Bitcoin's RSI is at 88, indicating overbought conditions and potential for a price correction, per The Market Ear • Bitcoin is up over 40% in 4 weeks and trading just 12% below its all-time high, making short-term traders tempted to chase gains • The Market Ear analysts say "chasing it here looks like a very late trade" for short-term speculators • Bitcoin's current price alongside such a high RSI reading is unprecedented based on historical data • While concerning in the short-term, the overbought reading matters little to long-term bitcoin investors focused on multi-year growth