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Overbought crypto meets a buy-the-dip market

Overbought crypto meets a buy-the-dip market

My August 28 read keeps strength and exhaustion in the same frame: BTC and ETH are overbought near meaningful resistance, stablecoin dominance confirms a bullish crypto backdrop, DXY remains bearish, Gold has a conditional support test and SOL’s surge carries an exhaustion warning.

Bitcoin slows into three resistance zones

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Bitcoin daily chart

I see BTC’s new local high at $81,478 slowing as it approaches TBO Resistance at $81,788, long-term support that remains resistance until tested near $82,500 and May’s wick cluster. Daily RSI is on a confirmed nine-day overbought streak, with lower RSI highs against higher chart highs. OBV and Volume are still bullish; Volume has decreased…

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