🚀 $BSB in overbought zone: Short correction or trend reversal? Technical Analysis 📊
Hey, Community! Today I’m bringing you a quick analysis of BSBS/USDT in perpetual contracts, as it's been making a brutal move (+23%). Let’s check what the different timeframes are telling us:
📉 Short Term (15m / 1h): The price hit a high of 0.88869 and we’re seeing the first red candlesticks of retracement. The 6-period RSI is hovering around 88-90 points, indicating extreme overbought conditions. Additionally, the Bollinger Bands have expanded to the max due to volatility. It’s completely normal and healthy to see a small dip here to relieve pressure.
🚀 Main Trend (4h): Heads up here! The larger structure is strongly bullish. We just broke out of an important consolidation zone with a lot of volume.
💡 My Conclusion: The price is likely to drop a bit in the coming hours (a short retracement), but the main strength is still with the buyers. This isn’t a trend reversal, just the market catching its breath to seek out stronger support and continue rising. What do you think, are you going Long or waiting for the Short retracement? 👇
Disclaimer: This is not financial advice. Trade with risk management.
What do you think, are you going Long or waiting for the Short retracement? 👇
$BTC
Hey, Community! Today I’m bringing you a quick analysis of BSBS/USDT in perpetual contracts, as it's been making a brutal move (+23%). Let’s check what the different timeframes are telling us:
📉 Short Term (15m / 1h): The price hit a high of 0.88869 and we’re seeing the first red candlesticks of retracement. The 6-period RSI is hovering around 88-90 points, indicating extreme overbought conditions. Additionally, the Bollinger Bands have expanded to the max due to volatility. It’s completely normal and healthy to see a small dip here to relieve pressure.
🚀 Main Trend (4h): Heads up here! The larger structure is strongly bullish. We just broke out of an important consolidation zone with a lot of volume.
💡 My Conclusion: The price is likely to drop a bit in the coming hours (a short retracement), but the main strength is still with the buyers. This isn’t a trend reversal, just the market catching its breath to seek out stronger support and continue rising. What do you think, are you going Long or waiting for the Short retracement? 👇
Disclaimer: This is not financial advice. Trade with risk management.
What do you think, are you going Long or waiting for the Short retracement? 👇
$BTC
van en Long
50%
retroceso en Short
50%
26 votes • Voting closed