BITCOIN 2021 RSI fractal points lower

12 oct. 2022

As Bitcoin (BTCUSD) is struggling to break above the Lower Highs trend-line that started after its November 2021 All Time High (ATH), the RSI on the 1D time-frame has been printing (since June) a sequence similar to that of mid-July - early-Nov 2021.

As you see with the candle comparisons (orange for 2021 and blue for 2022), even though the RSI patterns were fairly similar during their course, the candle patterns diverged halfway through as 2021 was an (aggressive) uptrend while post mid-June 2022 has been a consolidation so far.

Regardless of that and as Bitcoin is being rejected yet again on its ATH Lower Highs, does this mean we are on the verge of another sell-off? The RSI certainly points that way. Feel free to let me know in the comments section below!




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