Bitcoin has reached the top of the world!

 Bitcoin continues its upward rally at $ 56,000, although it seems exhausted, given the signals in the overpriced market charts. BTC has risen about 18% in the last week and faces resistance between $ 58,000 and $ 60,000.

The relative strength index (RSI) in the four-hour chart fell from an overvalued signal last week. 

A negative deviation between the RSI and the price usually leads to a brief decline similar to mid-September.

The RSI on the daily chart is approaching the overvalued levels, indicating that buyers could move out of positions near the higher resistance levels.

The uptrend has improved in the last two weeks, which means that the downtrends could be limited to the initial support at $ 50,000.

Is there a ceiling for cryptocurrencies?

How far can their value go?

This article is for informational purposes only and does not replace specialized consulting services with professional experts.