Cryptocurrency News Today TheBitTimes.com

The cryptocurrency market has resumed its bullish trend, led by Bitcoin (BTC), which is trading at a new record high above $110,000. However, this optimism, driven by increased buying pressure from investors, has led to overbought conditions for specific cryptocurrencies, making them risky bets for traders heading into the weekend. In this context, below are two overbought assets to hold off on trading, as they currently exhibit elevated Relative Strength Index (RSI) levels. Bitcoin (BTC) Bitcoin is trading at $110,975, surpassing its last record high. However, the asset’s RSI values across multiple timeframes suggest caution.  For example, the RSI reads 50.82 on the one-hour chart, 65.38 over four hours, 69.28 over 12 hours, and 74.53 over the past 24 hours. BTC RSI reading. Source: Coinglass Notably, an RSI above 70 typically indicates overbought conditions, and Bitcoin’s 24-hour RSI signals the potential for a pullback as buying press...

Bitcoin (BTC) is trading in bear territory following a sharp correction, but from a broader perspective, the asset remains firmly in a bull market after hitting a record high of $108,000 in late January. Now, key technical indicators suggest that the recent pullback may not signal the start of a prolonged downturn, but rather one of the most attractive buy opportunities in months. Specifically, Bitcoin’s 50-week moving average (MA) is serving as a crucial support level, helping to sustain the broader bullish trend. At the same time, another critical indicator, the 0.5 Fibonacci retracement level, is showing notable strength, continuing to anchor Bitcoin firmly within bull cycle territory, according to TradingShot. Picks for you Economist says the real Trump trade is ditching U.S. stocks for foreign markets 3 ho...