BTC - 11 October 2019 - Weekly RSI is Warning
You can see the weekly RSI above the chart.
In a bull season 40-50 Level RSI is support and below is not generally considered bull.
In all the bull seasons of bitcoin, it nearly NEVER dropped below 50 other than a short time in June 2013 bull season. It bounced back in a week!
Here we are in the range 40-50 waiting to see what will happen next.
We might find support and turn back, if not, and if we fall below 40 RSI, no bull season for a while
In a bull season 40-50 Level RSI is support and below is not generally considered bull.
In all the bull seasons of bitcoin, it nearly NEVER dropped below 50 other than a short time in June 2013 bull season. It bounced back in a week!
Here we are in the range 40-50 waiting to see what will happen next.
We might find support and turn back, if not, and if we fall below 40 RSI, no bull season for a while
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Monthly Stochastic RSI is not looking really good
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3rd week below 50 RSI