Technical Indicator Flashes Hidden Sign of Emerging Bitcoin Strength, According to Crypto Trader
An analyst who nailed Bitcoin’s pre-halving correction last year says a key indicator is flashing a bullish signal for BTC.
The analyst pseudonymously known as Rekt Capital tells his 107,000 YouTube subscribers that the Relative Strength Index (RSI) indicator is breaking out of a months-long downtrend, suggesting Bitcoin may soon soar to the upside.
The RSI is a momentum oscillator used to determine whether an asset is oversold or overbought. The RSI’s values range from zero to 100 with the level between 70 to 100 indicating that an asset is overbought while the zero to 30 level indicates that an asset is oversold.
“What’s interesting about this entire period right now is that this has been a downtrend on the RSI, a…
