Bitcoin’s RSI Has Done This Only Near Major Bull Runs: Analyst
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Bitcoin's daily RSI climbed above 85 after BTC topped $81,000 this week, a level crypto analyst Sykodelic says has never occurred during a bear market. Analysts view the unusually high RSI and price breakout as evidence the current rally may mark the start of a new uptrend rather than a short-lived bear-market bounce, signaling bullish implications for crypto price and market sentiment.
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Bitcoin (BTC) has pushed its daily relative strength index (RSI) above 85, a level crypto analyst Sykodelic says has never appeared during a bear market, after the asset reached above $81,000 this week.
The reading is being used to argue that the latest rally looks more like the opening of a new uptrend than a temporary bear-market bounce.
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