Bitcoin (BTCUSD) on the 1W time-frame is about to see its RSI break above the 70.00 overbought barrier. A simplistic yet reliable historical way of viewing the current situation is that every time the RSI broke above this level, BTC was either starting a mega Parabolic Rally or was in the middle of a smaller rally. On five occasions the rallies were very aggressive, on four there were less, the kind of rallies we see at the start of a Bull Cycle.
What is it going to be this time? Feel free to let us know in the comments section below!
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