Bitcoin’s RSI Has Done This Only Near Major Bull Runs: Analyst
🚀 Bitcoin's daily RSI has surged above 85, a level never seen during a bear market, indicating a potential new uptrend rather than a temporary bounce.
📈 Analyst Sykodelic highlights that historically, an RSI above 85 has preceded major uptrends, suggesting the current price action resembles previous bullish patterns.
⚠️ Despite rising open interest in Bitcoin futures signaling increased market confidence, caution remains as BTC needs to close above $83,000 for confirmation of a sustained bullish trend.
🚀 Bitcoin's daily RSI has surged above 85, a level never seen during a bear market, indicating a potential new uptrend rather than a temporary bounce.
📈 Analyst Sykodelic highlights that historically, an RSI above 85 has preceded major uptrends, suggesting the current price action resembles previous bullish patterns.
⚠️ Despite rising open interest in Bitcoin futures signaling increased market confidence, caution remains as BTC needs to close above $83,000 for confirmation of a sustained bullish trend.