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RE: Whats the Current Market Sentiment? + Bitcoin Update
Stochastic RSI on weekly, is on highest point now since start of bearmarket. Can it get much higher?
Stochastic RSI on weekly, is on highest point now since start of bearmarket. Can it get much higher?
I believe it can. Especially that the RSI on the weekly is just taking off (currently at the 40 mark). The Stoch RSI is more of a momentum indicator and for now there seems to be no major change in Bitcoin's momentum. On the monthly, the Stochastic indicates a bullish cross for the first time since the correction started. And the momentum usually changes direction before the price does, so this might be a 'new beginning'.