#Bitcoin - this is just the beginning.
There are many similarities between the 2016 cycle and the current 2024 cycle.
If you look at the chart, the RSI just returned from the overbought zone while the price moved sideways. We observed a similar pattern in the previous cycle after the Bitcoin halving.
In 2016, the RSI surged from 60 to 90 three times before the price eventually peaked.
The first correction in RSI from the overbought zone after the halving was when bitcoin started going parabolic.
If this pattern repeats, similar to the previous cycle, this is just the beginning..
