Why Crypto Markets Just Flipped: Danger or Hidden Opportunity Ahead?

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I observed one thing regarding in conventional markets just lately. The NASDAQ 100 RSI hit 75 — firmly in overbought territory. This issues greater than most crypto merchants notice.

Why inventory markets have an effect on crypto:

• Crypto sometimes correlates with shares throughout downturns
• Fed Chair Jerome Powell referred to as markets “pretty overvalued”
• Historic RSI peaks at 75 typically set off pullbacks

Wanting again at earlier cycles, I see a sample. Each time the NASDAQ reached these overbought ranges, we noticed vital corrections inside weeks.

February 2023 noticed a good pullback after comparable readings. June 2023 introduced one other correction. The July 2023 peak led to main promoting via October.

Bitcoin’s Present Technical Image

I’m monitoring Bitcoin at $113,000 proper now. The technical indicators paint a combined image that has me cautious.

Present Bitcoin alerts:

• MACD displaying downward momentum
• RSI is effectively under the management line
• Buying and selling under 20 and 50-day EMAs
• Volatility at its lowest ranges since 2023