Analysis: BTC's largest overbought since its rise in December 2017 to nearly $20,000

The technical analysis tool GTI Global Strength Indicator shows that BTC has exceeded $5,000 for the first time since November last year, the biggest overbought since it rose to nearly $20,000 in December 2017. A similar situation has occurred in the past, which indicates that its price may decline for several weeks. At the same time, Bloomberg intelligence analyst Mike McGlone also said: "The market has been compressed so tightly, the volatility is so low, this time it broke out. Now this is a question of duration, I suspect that when such a huge When there is a bubble, there will always be a lot of people who need to sell."