He reduces the upward trend of Bitcoin (BTC). And although it is not a subjective opinion, the facts that follow the relative force index (RSI) are observed.
With weekly temporality, RSI for the 14th period is below that averagewhich has started a major price adjustment period in the past.
The following graphics provided by the TrainingView platform allow you to see the price of BTC (above) with sails and RSI (bottom) indicators for the week.
As you can see, the relative strength index is placed under the yellow and bitcoin lines, as done in the past.
At the time of this publication, the encryption price calculator marks it BTC is trading for $108,467 in the main exchange.
If the story is repeated, BTC may be in the fall period for several weeks or at least on the left and right.
However, it is worth making clear that the story should not necessarily be repeated. Digital currencies also have upward bounces, which could be given, for example, by confirming US interest rate cuts.
What can be guaranteed in the context is that the days of high volatility in BTC are likely to be the case, so the safety belts should be prepared for the “roller mountain” of the market.
