I don't usually rely on RSI data alone but found this interesting. Bitcoin tops over the last 8 years have been consistently formed around monthly RSI's near the 96 mark and this happened on 3 different occasions.
- April 2013
- November 2013
- December 2017
In August 2017 we had a mini-correction around 94 RSI before a full-blown reversal in December. With a current monthly RSI over 89 as we speak, it's interesting to see how we react to the same levels if & when we get there.
Worth keeping in mind for all you crypto fanatics.
- April 2013
- November 2013
- December 2017
In August 2017 we had a mini-correction around 94 RSI before a full-blown reversal in December. With a current monthly RSI over 89 as we speak, it's interesting to see how we react to the same levels if & when we get there.
Worth keeping in mind for all you crypto fanatics.
Comentarios:
We reached nearly 92 RSI before the recent pullback which revealed striking monthly candlestick similarities. Could this be it? March will tell but I do expect another retest closer to the highs atleast.