FibnFork

70 RSI and its significance

BITSTAMP:BTCUSD   Bitcoin
After breaking back into "overbought" territory, first time since December, lets look back at other times this has happened. When first learning about RSI, it's normally taught that going above 70 is a good place to start shorting, but that's when momentum is the greatest as shown on the chart. Disregarding the anomalies, the average bullish advance is roughly 40% when breaching 70 RSI and holding for about a week. So let's see if the bulls can hold onto >70 RSI for the rest of the month.
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