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4 signals shows that BITCOIN is overbought.

Bitcoin (BITSTAMP:BTCUSD)  
YanakTrading  
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis Technical Indicators Trend Lines overbought trendlineanalysis correction rally bollingersband reversal rsi_overbought Bearish Patterns Technical Analysis
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trendanalysis indicator trendline overbought trendlineanalysis correction rally bollingersband reversal rsi_overbought bearish technicalanalysis
In this chart we see many signals that indicates that Bitcoin is overbought and that the price will soon be corrected and go back down.

- A trendline connected 3 corrections, but then the price rallied, thinking it doesn't has to come back to the trendline, meaning it is too bullish and is overbought.

- Candlesticks broke above the Bollinger Bands (BB), meaning there is an upcoming reversal.

- RSI is above 70 (=overbought)

- Bollinger Bands %B is above 1 (=overbought)

Using the TBS Strategy, consider selling when the BB %B crosses down.
Penafian

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