What RCI will tell about Bitcoin: what will happen if the current position does not hold? Is the scenario of 33k realistic?
I studied the Bitcoin chart for a long time and came across an interesting point: how the market momentum behaves in different cycles when looking at the RSI.
The charts show a recurring pattern, and it is worth considering, even if the market is rising.
The strength of the momentum weakens with each cycle
In every major rise, it should be noted that $BTC cannot create a new RSI maximum above the previous cycle. Pay attention to the white line on the chart; everything is obvious here, especially interesting on ATX 126199, it seems that even back then the indicator hinted at a decline in BTC.