Bitcoin's Next Big Move? RSI's Telling Us Something!
As we can see from the chart, there is a clear pattern correlation between Bitcoin's price and the RSI (Relative Strength Index). In the past three cycles (on the monthly chart), the RSI exhibited a significant gradual upward movement, coinciding with Bitcoin reaching new all-time highs (ATHs).
In the current, fourth cycle, we are observing a similar pattern to the last three. The RSI value has successfully crossed the median value of 50, with the Bitcoin price reaching a new high, the highest in the last 1.5 years. Given these indicators, we expect the RSI to continue this trend while Bitcoin potentially reaches new ATHs.
As of now, Bitcoin's price has shown remarkable growth, with a year-to-date increase of 120.93% and a 124.05% increase over the past year
Let's wait and watch. Share your opinions in the comments.
Cheers,
GreenCrypto
In the current, fourth cycle, we are observing a similar pattern to the last three. The RSI value has successfully crossed the median value of 50, with the Bitcoin price reaching a new high, the highest in the last 1.5 years. Given these indicators, we expect the RSI to continue this trend while Bitcoin potentially reaches new ATHs.
As of now, Bitcoin's price has shown remarkable growth, with a year-to-date increase of 120.93% and a 124.05% increase over the past year
Let's wait and watch. Share your opinions in the comments.
Cheers,
GreenCrypto
Comment:
RSI is moving in the right direction, stay tuned for more updates
Comment:
If we look at the altcoin marketcap we are similar trend,
In the previous run altcoin marketcap increased from 40B to 1.8T, which is a very significant increase of 45x.
If we see similar run this time, then 45x of 430B will be 19T, even if it reached half of this (9T) then its gonna be a huge win for altcoins. we can expect some coins to hit 100x or even 1000x.
If we look at the MACD, in the last cycle (2020) after the MACD cross market cap increase exponentially, and we are currently seeing MACD getting ready to cross and market is getting ready for bitcoin halving with positive sentiment. Overall we are very confident on MACD cross and altcoin reaching the market cap of 6-9T easily.
In the previous run altcoin marketcap increased from 40B to 1.8T, which is a very significant increase of 45x.
If we see similar run this time, then 45x of 430B will be 19T, even if it reached half of this (9T) then its gonna be a huge win for altcoins. we can expect some coins to hit 100x or even 1000x.
If we look at the MACD, in the last cycle (2020) after the MACD cross market cap increase exponentially, and we are currently seeing MACD getting ready to cross and market is getting ready for bitcoin halving with positive sentiment. Overall we are very confident on MACD cross and altcoin reaching the market cap of 6-9T easily.
Comment:
35000 Support is holding strong, this is important for Bitcoin to continue its bullish sentiment.
Comment:
this monthly candle close is critical
Comment:
This binance/CZ drama did not affect the price much, Bitcoin was able to absorb the news without having much volatility
Comment:
Bitcoin is staying strong at 37K
Comment:
Bitcoin just crossed 38K, next target 40k. HODLLLLLLL
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