Interestingly, the overbought signals align with price touching the upper trendline of this rising channel, which the 2021 mid-wave rally wasn't able to reach. Currently, the trendline sits around ~300K, meaning a push into overbought territory would coincide with another touch of this line, marking the completion of the macro Elliott Wave bull market that began in 2009. This would set the stage for Bitcoin’s first macro correction.