#ProjectCrypto
Currently, the crypto market is in a quite interesting phase. BTC/USDT has corrected to the level of $114,017.23, down -1.34% in the last 24 hours. From the RSI(6) indicator, it can be seen that it is already above 70, indicating an overbought condition. This could be a signal for a potential short-term pullback.
However, the price movement is still above MA(7) and MA(25), indicating a strong buying pressure. If it can break through MA(99), the chances for further upward movement could open up. But if it fails, we might see a decline towards the support at $112,722.
As a short-term trader, it's important to maintain discipline and carefully strategize entry/exit. In phases like this, the decision to buy or wait is very crucial.
