The CMT accredited expert explains why Bitcoin may not reach the maximum of indicators
The cause of confidence
The strict editorial policy that focuses on accuracy, importance and impartiality
It was created by industry experts and carefully review
The highest standards in reports and publishing
The strict editorial policy that focuses on accuracy, importance and impartiality
Morbi Pretium Leo Et Nisl Aliguam Mollis. Quisque Arcu Lorem, Quis Quis Pellentesque NEC, ULLAMCORPER EU ODIO.
Este artículo también está disponible en estñol.
The encryption market technician discusses whether Bitcoin has reached its climax in this bull cycle, such as Technical indicators It indicates a possible loss of momentum. The analysis report highlights technical indicators such as Relative power index (RSI) Which failed to reach extremist pronunciation, raising concerns about the future path of bitcoin.
Bitcoin indicators lack historical summits
Bitcoin historically showed strong indicators during the main session summits, reflecting the participation of intense market and enthusiasm. However, in this bull cycle, RSI Pioneer Cryptocurrency’s reading failed to reach historical peaks though Bitcoin access to a new Ever Rises.
Related reading
Tony Sevirino, former X -Twitter encryption technician, has Bitcoin price risk disrupts further collapse with the shift detailed Bitcoin analysisThe challenge of assuming that the encrypted currency must reach the same thing RSI levels in the adherence area As in previous sessions to confirm its peak on the market. The main argument here is that its highest levels on oscillator such The strength of the market has declined.
Severino shared an example in comparison The current bull cycle of Bitcoin For previous sessions. On the previous emerging market, the Bitcoin monthly relative index reached above 90, but its current session was not. The analyst asked a question about whether this is the inability to reach the past parties. It means that Bitcoin was not. The market summit Or simply lack the same momentum to push RSI to the highest level.
The analyst has warned that the belief that Bitcoin should reach extremist extremism on the indicators before reaching the peak of the price is a dangerous way of thinking. Historical patterns are not always repeated in the same way, and relying on previous index’s tops may cause merchants to miss warning signs of top or reduce the possibility of a Bear market.
Severino also referred to historical data from S & P 500 In the fifties and sixties, where the similar relative power index previously failed the collapse of the long market. During these times, periodic peaks hit RSI readings of 77 or higher, but in 1969, RSI failed to reach these highlands, indicating underlying weakness. This stagnation in the market eventually led to the lowest level in more than 20 years.
Although this historical behavior of the S&P 500 does not mean that bitcoin is present to the highest level, it indicates that the cryptocurrency does not need to reach the extreme RSI levels to confirm the top of the cycle and the subsequent bear market.
The analyst says that BTC has reached the top of the market
In his analysis, Severino confirmed that Bitcoin has already reached the top of the market in this bull tour. After his detailed analysis of the RSI levels in Bitcoin, a member of the community to request If Cevirino believes that bitcoin reached the top of the market when it has The price rose above 109,000 dollars.
Related reading
analyst Respond Positively, the current market data indicates that the cryptocurrency has reached the highest price point for this bull cycle after that The opening day in Donald Trump in the United States. At that time, Bitcoin rose to $ 109,000, a new ATH position and exceeded previous records.
Distinctive image from Unsplash, Chart from TradingView.com
