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BTC bears are lying in wait, 15-minute RSI overbought at 72—has the reversal signal already lit up?
$BTC /USDT - SHORT (sell)
Trading plan:
Entry: 65373.20 – 65552.56
SL: 66582.06
TP1: 64623.49
TP2: 64063.90
TP3: 63224.52
Why focus on this setup?
- The 4-hour trend is clearly SHORT, with 77% confidence; under EMA suppression, rebounds lack momentum.
- The 15-minute RSI hit 72.54, locally overheated, with a strong need for a short-term pullback.
- Entry reference 65462, TP1 at 64623; the risk-reward ratio is 2.5:1, and the stop loss is clearly set at 66582.
- Why now? After being overbought, a sharp drop often follows, and the larger timeframe is near the upper edge of its range.
Discussion:
Will this wave reach TP2 at 64063 first, or is it a bull trap that pulls back to 65500?