Bitcoin RSI looking strong over 70

in #bitcoin2 years ago

The RSI doesn't usually peak until at least 90 during the BTC bull markets...

Bitcoin has plenty of room to run still.

Usually when the RSI gets over 90 it's time to start trimming some of your holdings.

However, we are nowhere near that point yet, check it out:

image.png

(Source: https://twitter.com/100trillionUSD/status/1451128329176768514/photo/1)

Keep an eye on this during the next surge though, it's a good sell signal.

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I sell when I need cash... With the trend of Bitcoin, I will always get my coins back...

It never runs away does it?

With current trend I can sell 90% of my Bitcoin wallet balance and still be even...

what do you mean?

Basically when I started, I bought 20 EUR worth of Bitcoin... If that is worth about 200 EUR now, I can sell up to equivalent of 180 EUR. With current trend value of the remaining coins will climb back to 200 EUR sooner than later.

Yea, but that 20 EUR lost purchasing power over that time period... so technically having the same EUR value is losing money...

That's why I said "up to"... I wouldn't actually sell all 90% at once... Also, Coinbase will give rewards, that are essentially free money, to counter the lost purchasing power.

Those rewards are a couple dollars every couple of weeks though, not much...

Still watching.

All the sudden things are less fun.

Momo is gone.

Looks like each peak is lower on the RSI.

Still important to watch this tho.

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