Coin

<ul class="news-points"> 
 <li><strong>BTC has been respecting the trendline since 2023; it may continue to abide by it.</strong></li> 
 <li><strong>On the weekly chart, BTC has been moving sideways with negligible vertical movements.</strong></li> 
 <li><strong>Crypto Investor states that it’s the beginning of a major bull run when the weekly RSI reaches above 70.</strong></li> 
</ul> 
<p>Crypto and stock investor who goes by the pseudonym Jelle tweeted that once the weekly Relative Strength Index (RSI) was above 70, it was the beginning of a major BTC bull run. In the analysis, Jelle clearly highlighted areas of the RSI, such as the Rally, RSI Reset, and Bull Markets which happened in the order mentioned.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">When <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> breaks above 70 on the weekly RSI — it tends to mark the start of a major bull run.<br><br>With a clean breakout above $30,000, I don't think this time is different.<br><br>Send it higher. <a href="https://t.co/A5oF2cvIHI" target="_blank" rel="nofollow">pic.twitter.com/A5oF2cvIHI</a></p>— Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1723975478279606756?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 13, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Since <a href="https://coinedition.com/tag/bitcoin-btc-news/">BTC</a> was at the beginning of the Bull Market, Jelle was expecting the price to increase by quite a margin. However, when looking at the weekly chart below, it could be noted that BTC was consolidating throughout the last four days of the week. It was moving sideways while vertically fluctuating between $36.8K and…</p>
<p>The post <a href="https://coinedition.com/btcs-rsi-breaks-above-70-is-this-the-begining-of-a-major-bull-run/">BTC’s RSI Breaks Above 70, Is This the Begining of a Major Bull Run?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

BTC’s RSI Breaks Above 70, Is This the Begining of a Major Bull Run?

Coin Edition

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