Bitcoin's Weekly RSI

3 aug.Doom signal? It is only doom if you are not prepared...

How are you feeing this Saturday my fellow Cryptocurrency traders?

Let's just keep it simple and classic, let's go with the divergence.

➖ Bitcoin's weekly RSI is showing a 3 years long bearish divergence with Bitcoin's price, here is the chart:

Here again the indicator reveals the lower high in 2024 compared to 2021.
(Read the MACD trade-idea for more information on this point.)

➖ On top of the bearish divergence we have Bitcoin's weekly RSI trending full down with a reading of 50.6. This means that the long-term RSI is about to go bearish for the first time since August 2023, and, coming from a major high (an ATH in this case), for the first time since November 2021. A major bearish development.

👉 This, and other signals, is telling us that there is room for lower prices; much lower, before we experience new highs and boom growth.

Thank you for reading.

I keep this one simple on purpose, I hope you don't mind.

Namaste.

5 aug.

Kommentera

Below you can find additional details on the current situation:

🅱️ Bitcoin's Worst Week Since May 2021... What To Expect Next?

🅱️ Classic Chart Patterns: Cup & Handle & Descending Triangle

🅱️ Japanese Renko | Daily & Weekly (Bearish Trend Confirmed)

Here is the trade idea with the MACD signal explained:

🅱️ Bitcoin's MACD | Daily & Weekly ($28,000 - $37,000 Support Range Active)

And here you can find how the Altcoins and Cryptocurrency market as a whole is likely to behave in the coming months, in preparing for the 2025 bull-market.

📈 Total Market Cap Excluding BTC | What To Expect (4.44T In 2025)

✴️ FetchAI - What Does It Say?

✴️ IMX | Altcoins Market Dynamics Explained! (2025 Bull-Market)

✴️ Binance Coin's Real Price Now $300 USD (Deciphering The Signals)

Thanks a lot for your support.

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Namaste.

6 aug.

Kommentera

➖ Bitcoin's weekly RSI is now officially in the bearish zone:

➖ It is the first time this development happens coming off a high point since August 2023. Coming off a new All-Time High, first time the weekly RSI goes bearish since November 2021.

👉 This signal clearly indicates a strong potential for lower prices in the coming weeks. Be careful. Expect major swings as well as strong volatility. Mid- to late August should be watched carefully as this is likely when most of bleeding will occur.

👉 In September, we are likely to get the correction low. This prediction is not based on the charts.

Namaste.

7 aug.

Kommentera

Bitcoin's monthly RSI is now at 57.59, which is a "bullish" reading in general but as it is trending down, it turns extremely bearish.

➖ Bitcoin's monthly RSI


The RSI is on the "bullish zone" but this only means that it has plenty of room to move lower.

Notice the very strong, long-term lower high...

How will a strong drop on the RSI reflects on Bitcoin's price?

The last time Bitcoins monthly RSI had a reading of 48 (projected initial target for this drop) coming from a high point, Bitcoin traded in between 40,000 and 25,000. That is, May 2022. Around 33,000-36,000 was the meat of the candle back then.

We can expect something similar.


These are discouraging signals for bulls but not all is lost... Once we hit bottom, the only place left to go is up.

For the bears: Don't get greedy and secure profits as the move develops.

👉 We are projecting a new All-Time High of $190,000 - $230,000 in 2025/26.

Thanks a lot for your continued support.

Namaste.