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"#bitcoin weekly RSI (relative strength index) is 60.
Look at when we last recovered from a below-60-period: Oct 2020, BTC at $10K, price then pumped 5x, RSI hit 90 and stayed above 70 for 6 months.
Also look at 2013 & 2017 bull markets: multiple periods with RSI in 70-90 range"
- PlanB, on-chain analyst
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