Although BTC is heavily overbought in the weekly timeframe, Bitcoin has previously proven it can trade overbought for many weeks before a large pullback. Often, this is when the biggest increase happen percentage wise (after the first Overbought signal).
Decembers are usually green months for BTC, this is another confirmation that we may see more increase. The technical indicators in all timeframes are also flashing bullish, meaning another push upwards is likely for this week.
The Bollinger Bands can be a great strategy for identifying potential bounce- and rejection zones.
Incase you missed it! The latest ETH updates are here👇:
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