The one thing nobody’s talking about. AFTER we pass old all time highs and above 70 on the RSI, Bitcoin has had 2 RSI pivots/peaks. The 2nd pivot/peak has always marked the top. We just had the 2nd recently.
Everyone keeps saying we have to get to 90 in the RSI before the top is in. Most still don’t realize the weakness that has taken place in bitcoin the last couple cycles. Just look at the 2nd RSI peak in the last bull cycle. Bitcoin is getting weaker. The herd just hasn’t caught on just yet.
Several other factors I’m seeing point to the top being in. More will be caught off guard this cycle than ever before I’m afraid.
Know one knows 100%. I’m just sharing what I’m seeing is all.
Be patient. No emotions. Let the trade come to you.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.