Since January 2014, the weekly has RSI has never been this high for BTC,
the only time BTC was able to sustain an RSI over 90 more than one week was in 2013 when things looked fundamentally different then.
Every time the RSI dumped, even before 2014, it dumped drastically.
So the question you gotta ask yourself is: do you believe BTC has the capacity to reach a higher RSI next week?
Because if not, we should be headed for a correction.
The week isn't over yet, but wherever the price of BTC goes today (Sunday), the likelihood of it being higher next Sunday is pretty slim..
"Watcha think?"
* This is not financial advice, always do your own research *
the only time BTC was able to sustain an RSI over 90 more than one week was in 2013 when things looked fundamentally different then.
Every time the RSI dumped, even before 2014, it dumped drastically.
So the question you gotta ask yourself is: do you believe BTC has the capacity to reach a higher RSI next week?
Because if not, we should be headed for a correction.
The week isn't over yet, but wherever the price of BTC goes today (Sunday), the likelihood of it being higher next Sunday is pretty slim..
"Watcha think?"
* This is not financial advice, always do your own research *
Comment:
Note: Most Alts are not setting ATH like BTC is doing currently. This is a sign to me that money is flowing from alts to BTC, and when BTC reaches a top, it will only be a local top, not a shift from a Bull market to Bear Market. Altseason should be coming right after this top.