BTC’s current reading is its highest reading since January 2021. Since 2018, BTC’s RSI has been higher than 84 just 25 times. This isn’t to say that an asset can’t stay overbought for extended periods. The 91 RSI level reached on Jan 8, 2021, was followed by a 15% increase in price 30 days later. It should be monitored.
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Written by Bankerage Published on January 14, 2023