The price of bitcoin is in the strong overbought zone, a rollback to $ 4600

The price of the first cryptocurrency shows a correction against the background of a strong overbought. For the first time since December 2017, the 14-day RSI reached 89.11. CoinDesk Markets analyst Omkar Godboul is convinced that over the next days a rollback to support levels of $ 4,672 and $ 4,565 is possible.

This is a case of overlapping conditions for 16 months. https://t.co/uksFOXldKF Report by @ godbole17

– CoinDesk Markets (@CoinDeskMarkets) April 4, 2019

On the daily chart, it can be seen that the candle on Wednesday closed with a long upper shadow, and on the 4-hour timeframe, meanwhile, there is a bearish absorption.

CoinDesk Markets Information

On the hourly chart, you can see how RSI is already smoothly leaving the overbought zone. However, only falling below $ 4236 will completely cancel the bull rally.

CoinDesk Markets Information

Recall, against the background of the rise in Bitcoin prices at CMC , the absolute historical maximum was recorded in daily trading volumes at around $ 86.62 billion.

However, alternative resources that track trusted trading platforms reported no more than $ 6 billion in performance.

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