📈 $BTC

HIGH TIMEFRAME ANALYSIS

Another big picture view on Bitcoin

Bitcoin is trading near its all-time highs. But I do not believe the next local top or the cycle top is in yet. The RSI has been a solid signal for calling major local tops in the past.

Right now, it’s elevated (see the orange box) but still has not hit the bearish trendline that marked previous tops (red box).

To me, this says the top is approaching, but we are not there yet. I'm confident Bitcoin still has slight room to push higher.

Keep in mind, this is a high timeframe analysis. It will take weeks to confirm or break, so short-term volatility will not significantly affect this setup.