Bitcoin(
BTCUSD
) Weekly RSI in Saturated Range = Corrective Trend
- In the history of Bitcoin, whenever the RSI indicator has reached the saturation zone (especially the range of 80-99) in the weekly time frame, the trend of at least 1 week and at most 300 days will enter the corrective or sideways phase (shown by blue vertical lines).
This situation also exists in the chart of altcoins, for example Solana's chart(
SOLUSD
) and Ethereum(
ETHUSD
)
- The closest state to now is 6/13/2016, when Bitcoin enters the weekly RSI saturation range 28 days before HALVING, and corrects up to 29%.
This 29% correction is 50,000 according to the current price, which is based on monthly liquidity(Price moves towards liquidity).
Binance BTC/USDT Liquidation Heatmap:
https://www.coinglass.com/pro/futures/LiquidationHeatMap
- According to the wave count, waves 1 and 2 have been formed and wave 3 is forming, and the price is now in the Fibonacci range of 2.618, which is an important range. Wave 4 is formed when the price corrects.
-Therefore, it is likely that wave 4 will form soon and a decline will occur
BTCUSD
) Weekly RSI in Saturated Range = Corrective Trend - In the history of Bitcoin, whenever the RSI indicator has reached the saturation zone (especially the range of 80-99) in the weekly time frame, the trend of at least 1 week and at most 300 days will enter the corrective or sideways phase (shown by blue vertical lines).
This situation also exists in the chart of altcoins, for example Solana's chart(
SOLUSD
) and Ethereum(
ETHUSD
)
This 29% correction is 50,000 according to the current price, which is based on monthly liquidity(Price moves towards liquidity).
Binance BTC/USDT Liquidation Heatmap:
https://www.coinglass.com/pro/futures/LiquidationHeatMap
- According to the wave count, waves 1 and 2 have been formed and wave 3 is forming, and the price is now in the Fibonacci range of 2.618, which is an important range. Wave 4 is formed when the price corrects.
-Therefore, it is likely that wave 4 will form soon and a decline will occur