The “Relative strength”Index (RSI) of Bitcoin is currently on a level that he has never been in front of a halving found. It is unclear whether this allows for positive or negative predictions about what to expect in the next month.
The Index of relative strength (RSI) is a common Trading indicator, which measures whether an asset is overbought or oversold. The RSI is often used in technical analysis and only an Instrument is used by traders to judge whether we are close to a low or high.
Currently, Bitcoins the RSI is at historic lows – that is, he is in the oversold zone before the next halving in may on an exceptional basis.
Contents
Bitcoins RSI falls before the halving
The continuing macro-economic Outlook seem to be the crypto-currency markets to overshadow, although in may, the biggest industry event takes place, the next halving of Bitcoin.
Historically, a rise in purchasing activity is preceded by a halving. The RSI seems to fall this Time, however, as strong as never before. This is discussed recently by the well-known Bitcoin believers and traders PlanB (100 trillion).
With the Loading of the Tweets, you accept the privacy policy of Twitter.
More content, download Twitter Tweets to learn more and unlock
Typically the seems of this chart indicate that Bitcoin is very close to a local low. The uncertain macro-economic Situation makes this prediction, however, is less clear.
Uncertain Times
Everything we know about the upcoming halving of Bitcoin, is their story. However, we are living in an extraordinary time, therefore, it is much harder to assess the.
The IMF now expects that almost all economies in the year 2020 will shrink. In addition, the world predicts trade organization that the world could shrink this year by up to 32%.
Increasing jobless claims make the macro-economic Situation is also particularly difficult.
Bitcoin has experienced, frankly, never has a recession. Nevertheless, the reductions have correlated with Bitcoin is also strong, with subsequent bull phases.
Analysts do not know what to expect. It is difficult to draw conclusions, since the macro-economic Situation is currently so unreliable.
At the Moment, seems to correlate Bitcoin with the S&P 500 and the Mainstream financial markets. Therefore, predictions for the future have less to do with Bitcoin and more with the larger economy.
In view of the fact that the world economy is at serious risk, traders should be especially careful to draw only from historical Trends bullish conclusions.