tradingsincero

We are witnessing a euphoria not seen in years. Bitcoin smashing historical highs above $90,000 is the news that everyone is celebrating. Social media is a hotbed of rockets and 'lambo' memes. But as a trader, my job is to ignore the noise and read the harsh reality of the chart. And what I see forces me to be brutally honest: the danger is now higher than ever.
The Relative Strength Index (RSI) in high timeframes is at extreme overbought levels, screaming that the market is overheated. Every novice trader is in profit and feels like a genius. This is the classic psychological trap. Smart money does not buy in euphoria; it creates it to be able to sell.