Bitcoin Breaks Daily RSI Downtrend, But Analyst Warns Of Strong Resistance Ahead — TradingView News
After hitting a low of nearly $76,000 on March 10, Bitcoin (BTC) has finally broken its daily Relative Strength Index (RSI) downtrend, now trading in the high $80,000s at the time of writing. However, crypto analyst Ali Martinez warns that strong resistance may lie ahead.
Bitcoin Finally Breaks Daily RSI Downtrend
In a recent X post, crypto analyst Rekt Capital highlighted that BTC has broken through a multi-month RSI downtrend. The analyst shared a Bitcoin daily chart, showing how the leading cryptocurrency’s RSI has broken free from a prolonged downtrend that began at the start of the year.
For the uninitiated, the RSI is a momentum indicator that suggests when the underlying asset – in this case, BTC – may be overbought or…
