With many altcoins appearing overbought in relation to Bitcoin (BTC), as evidenced by the Relative Strength Index (RSI) across multiple timeframes and lengths, there is a strong possibility of a reversion to the mean (a BTC Dominance bounce up from around the physiological 50% level). Most often it is argued to not use the RSI as an oversold/overbought indicator...
Comparing the two run up Bitcoin had during 2021, we notice a lots of similarities. Most of us anticipated a blow off top and it didn't really happen. We see lots of similarities between November 16th, 2020 - June 22nd, 2021 and June 22nd, 2021 - January 6th, 2022. If history of 2021 is any indication of what may happen, we may see Bitcoin trend sideways until...