Bitcoin's Monthly RSI

8 Agu 2024

Bitcoin's monthly RSI is now at 57.59, which is a "bullish" reading in general but as it is trending down, it turns extremely bearish.

➖ Bitcoin's monthly RSI


The RSI is on the "bullish zone" but this only means that it has plenty of room to move lower.

Notice the very strong, long-term lower high...

How will a strong drop on the RSI reflects on Bitcoin's price?

The last time Bitcoins monthly RSI had a reading of 48 (projected initial target for this drop) coming from a high point, Bitcoin traded in between 40,000 and 25,000. That is, May 2022. Around 33,000-36,000 was the meat of the candle back then.

We can expect something similar.


These are discouraging signals for bulls but not all is lost... Once we hit bottom, the only place left to go is up.

For the bears: Don't get greedy and secure profits as the move develops.

👉 We are projecting a new All-Time High of $190,000 - $230,000 in 2025/26.

Thanks a lot for your continued support.

Namaste.