Here is a simple chart of Bitcoin now with Relative Strength Index(RSI) indicator.
Why I said Bitcoin got more room upside? Because if we compare the previous RSI value when we reach the all time high, RSI value reached around 90.
Current RSI now, we are still not in 90 value of RSI, so for me I am expecting if we we surpass the previous all-time-high we may still not touch the 90 value of RSI.
What are your thoughts? Can history repeat itself? Like reach the previous ATH with same value of RSI?
I think completely the opposite, to put it simply you are comparing the 2017 ATH with current "close to new ATH price levels". I see the currently Weekly RSI as a major cause for concern, an enivtabl drop in price that will come sooner or later. But when it does, as always, bull market or not, it will be a significant drop whether from here, $20K or $25K.
Finally, if June 2016 RSI is anything to compare current overbought conditions with, then we could be looking at a deeper correction upto 40% and 6 months before making new highs:
If the Weekly RSI get's rejected at 85, not only would be this be completely reasonable, but could lead to months of consolidation after a considerable drop.