{"id":354539,"date":"2021-10-18T20:30:00","date_gmt":"2021-10-18T17:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-rsi-strength-suggests-btc-price-is-still-far-from-its-cycle-top\/"},"modified":"2021-10-18T20:30:00","modified_gmt":"2021-10-18T17:30:00","slug":"bitcoin-rsi-strength-suggests-btc-price-is-still-far-from-its-cycle-top","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-rsi-strength-suggests-btc-price-is-still-far-from-its-cycle-top\/","title":{"rendered":"# Bitcoin RSI strength suggests BTC price is still far from its cycle top"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f8d475bb0e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f8d475bb0e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-rsi-strength-suggests-btc-price-is-still-far-from-its-cycle-top\/#RSI_falls_far_short_of_classic_macro_top_zone\" >RSI falls far short of classic macro top zone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-rsi-strength-suggests-btc-price-is-still-far-from-its-cycle-top\/#Extreme_greed_lurks_in_the_background\" >Extreme greed lurks in the background<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin RSI strength suggests BTC price is still far from its cycle top <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) has barely started its run to new all-time highs if its relative strength index (RSI) repeats historical behavior.<\/p>\n<p>As <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1450104376186523649\">noted<\/a> by popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> analyst TechDev on Oct. 18, RSI has yet to produce macro top signals for BTC\/USD.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"RSI_falls_far_short_of_classic_macro_top_zone\"><\/span>RSI falls far short of classic macro top zone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin has kept the market guessing as it tracks sideways just below all-time highs without hitting them this month.<\/p>\n<p>With time, concerns have mounted that the blow-off top that many expect may not be as high as the bulls hope.<\/p>\n<p>Looking at technical data, however, the real state of Bitcoin&#8217;s bull run becomes <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent \u2014 there&#8217;s a lot more left.<\/p>\n<p>&#8220;Update on the 2-week RSI channel which has called every Bitcoin top and bottom in history,&#8221; TechDev explained. <\/p>\n<blockquote><p>&#8220;Current RSI Value: 68. Projected Top Value: 93-94. Every time it&#8217;s broken the EQ it&#8217;s visited the top. Clear skies ahead. Don&#8217;t forget this when it comes time to reinvest at the bottom.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1450104376186523649\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>History has proven RSI to be a key factor in tracking Bitcoin price strength on longer timeframes. A 90+ reading has coincided with tops, and until this level is broken, Bitcoin spot price action trends higher.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/191dd686-762e-4f6e-b37a-f57f5f0cb8a4.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD chart with RSI peaks highlighted. Source: TechDev\/ Twitter<\/em><\/figcaption><\/figure>\n<p>TechDev previously forecasted a potential top for this cycle lying between $200,000 and $300,000 \u2014 again based on mathematical phenomena, notably Fibonacci sequences which have also characterized every bull run.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Extreme_greed_lurks_in_the_background\"><\/span>Extreme greed lurks in the background<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Technical formulae such as these paint a decidedly different picture to price metrics based on different aspects of crypto markets.<\/p>\n<p><strong><em>Related:\u00a0All-time high weekly close \u2014 5 things to watch in Bitcoin this week<\/em><\/strong><\/p>\n<p>This week, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Crypto Fear &amp; Greed<\/a> Index returned to its highest possible area, &#8220;extreme greed.&#8221;<\/p>\n<p>At 78\/100, the Index is noticeably closer to its own peak than RSI, this likewise historically signalling macro tops.\u00a0<\/p>\n<p>As Cointelegraph reported, 95\/100 and up has accompanied every top in Bitcoin&#8217;s history, leaving precious little room for growth unless that growth itself becomes more sustainable.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/8d64d1c2-f6d0-43c8-a2e2-0a3a9c91f36f.png\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed Index as of Oct. 18. Source: Alternative.me<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-rsi-strength-suggests-btc-price-is-still-far-from-its-cycle-top\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin RSI strength suggests BTC price is still far from its cycle top &#8221; Bitcoin (BTC) has barely started its run to new all-time highs if its relative strength index (RSI) repeats historical behavior. As noted by popular Twitter analyst TechDev on Oct. 18, RSI has yet to produce macro top signals for BTC\/USD&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":354540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvOGZmNDdkNzAtMWEwOC00M2NkLWIyMzQtZTNjMDQzYTgyMmE0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-354539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/354539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=354539"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/354539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/354540"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=354539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=354539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=354539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}