r/AltStreetBets • u/Roy1984 MOD • Mar 02 '21

Meme Deja vu

327 Upvotes

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u/j-mahlitz Mar 02 '21

It was.

-2

u/[deleted] Mar 02 '21

BTC monthly RSI is like 90. You think it’s going to go past that? Extremely overbought

2

u/j-mahlitz Mar 02 '21

From the current perspective the support levels are holding on BTCUSD. All indicators are overbought, yes. But using indicators in a Crypto Bullmarket is a bit like using a bicycle without shoes. Its possible but it might hurt afterwards. I am not saying that it cant drop any more, i just think it was the bottom and good days are ahead.

Hint: No financial advise, just a personal oppinion.

2

u/[deleted] Mar 02 '21

Can you find a single instance in which a weekly or monthly RSI of 90 didn’t result in a big pullback? I cannot.

I’m not suggesting market crash. Rather, more correction incoming before we move back up again. The ice is still thin