#BTC

Market commentary: The short-term market is about to undergo a correction

Technically speaking, BTC's daily RSI has been above 80 for 17 days, and the last time it appeared was in January 2021. Generally speaking, RSI exceeding 80 indicates that a project has extremely strong upward momentum, and the short-term price peak will be completed at this time. Combined with the macro environment, the financial market still maintains high interest rates (fund pumping machine), and the market does not have the conditions to make a big move. Then combined with predictions, the short-term market rise driven by BTC will end in the next few days, and BTC will fall back thousands of dollars, which will lead to a large number of copycats pulling back sharply. It is recommended to clear positions and wait for bargain hunting. When BTC falls below 21,000, you can start purchasing mainstream digital currencies such as BTC/ETH. The cottage can still wait.