navywhiskey

Historically BTC tops at an RSI of around 97, and a bottom of 45

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
On the monthly chart using the RSI indicator Bitcoin peaks at around 97 and bottoms out around 44-45. Historically these would be the best long and short positions. This most recent top (April 2021) had an RSI 92. Lower than the previous peaks but I feel this cycle is different and may also be ending early. Also the Guppy indicator has just flipped red on this monthly chart.

Comments

Think April '13 and Aug 17' should be something to consider here though personally in regards to the cycle, they both hit it twice
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