Monthly BTC RSI shows a drop in BTC to possibly 2k
I am ultra bullish on Bitcoin, but all possibilities must be investigated. I don't want to be Hodler. I want sell at the top and buy at the bottom and it will be nice to buy cheap coins.
A look at the monthly RSI from the previous bear and bull market shows it follows a curve (Blue), with RSI periodically touching the curve. If the same curve is cloned and superimposed on the current bear and bull market, we can see we are overbought and a huge pullback to the curve is possible. It can reach 2K, lower than the previous low but higher on the RSI forming a bullish divergence, and restarting the trend upwards.
This scenario is only valid if the current RSI follows the previous bear and bull market curve. It is possible that the current curve be narrower, leading to a lesser pullback in BTC.
A look at the monthly RSI from the previous bear and bull market shows it follows a curve (Blue), with RSI periodically touching the curve. If the same curve is cloned and superimposed on the current bear and bull market, we can see we are overbought and a huge pullback to the curve is possible. It can reach 2K, lower than the previous low but higher on the RSI forming a bullish divergence, and restarting the trend upwards.
This scenario is only valid if the current RSI follows the previous bear and bull market curve. It is possible that the current curve be narrower, leading to a lesser pullback in BTC.
