Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
ImThour
on 27/12/2022, 15:30:43 UTC
⭐ Merited by JayJuanGee (1)
I was analyzing Bitcoin's RSI on Weekly Timeframe.
I noticed something similar happening as compared to 2018.

Down represents when RSI crosses RSI's Moving Average downwards.
Up represents when RSI crosses RSI's Moving Average upwards.

In 2018, there were 5 Down Crosses before bottom was in. After the last down cross, BTC went down 50%.
Currently, 5th Down Cross happened on 5th Dec, 2022. Let's see if Bitcoin follows the similar pattern.