Crypto Market RSI Update!
I haven't posted a crypto market RSI for a while. As mentioned several times, this chart becomes interesting only once we reach specific highs or lows.
We watched the chart closely a couple of weeks ago when the average RSI hit a 2-year low. We also predicted the turnaround pretty precisely.
After bouncing from its low, the RSI has been constantly increasing and reached a level of 66 today.
This level is still considered neutral since the overbought area starts at 70. Moreover, even when the average RSI reaches the level of 70, it doesn't imply that we will see a correction immediately.
However, the higher the RSI climbs, the more important it gets to be prepared since a correction is getting more likely.
Again, we are not there yet, and there's plenty of room for price to pump before it gets critical.
