Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) as the flagship crypto asset hovers below the $100,000 price.
In a new video, Svenson tells his 82,400 YouTube subscribers that the weekly Relative Strength Index (RSI) indicator, which he considers “one of the most reliable signals for bullish pivots in Bitcoin land,” is suggesting a move to the upside for the flagship crypto asset.
The RSI is a momentum indicator that oscillates between 0 to 100 and is used to determine overbought or oversold levels.
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“And now we are seeing, if you look closely, the weekly RSI is starting to peak above the downtrend line…
If we do get a close above this resistance line, well it may indicate a huge leg up
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