Holy All Time Lows Batman

A look at $BTC.X‘s price chart only shows part of a picture that describes how beaten down it is. Other perspectives show how really beaten down it is. 

Monthly Relative Strength Index (RSI)

In a nutshell, the RSI is a momentum indicator used by analysts and traders to interpret how over-bought or over-sold an instrument is. 

On Bitcoin’s monthly chart, the RSI value isn’t as important as what the current monthly RSI value represents: an all-time low. This is the lowest Bitcoin’s monthly RSI has ever been. 

BTCUSD Monthly RSI – All-Time Low

Big Gaps

In the image below, the only thing you need to focus on is the space between the bodies of the candlesticks and the Tenkan-Sen. A gray/black blob represents the space to focus on. 

BTCUSD Monthly Chart

Gaps between the bodies of candlesticks and the Tenkan-Sen don’t last long and often correct within four to five periods. 

The current stretch of seven candlesticks of significant gaps is a record for Bitcoin. 🤯

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