Examining the 1-month RSI for BTC/USD, we observe two instances where the RSI has touched the major trend line, each followed by a significant upward move. On our current bull run we have formed a trend up, with again our 2 hits on support line. So will we reverse from here or hit the trend for a 3rd hit? If true - this pattern indicates potential short-term downside for BTC, with the RSI likely finding support. Additionally, the RSI resistance line suggests that BTC hasn't yet reached a peak. So will we see a third hit or a reverse from here?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.