In 2018, BTC.D RSI was overbought for two months. This time period coincided with a Bitcoin relief rally of ~35% for one month, followed by a move back down and sideways for the remaining time.
Also in 2018, BTC.D stayed at an overbought level for five months starting in July until the Bitcoin bottom was found in December (with the exception of six weeks).
Currently, BTC.D has been overbought for almost one month, with Bitcoin dropping almost ~25% in that time. If BTC.D matches 2018 with Bitcoin rallying ~35% in the near future, it would hit $38K - where the 20MA is, as well as the starting point of that aforementioned 25% drop.
Also in 2018, BTC.D stayed at an overbought level for five months starting in July until the Bitcoin bottom was found in December (with the exception of six weeks).
Currently, BTC.D has been overbought for almost one month, with Bitcoin dropping almost ~25% in that time. If BTC.D matches 2018 with Bitcoin rallying ~35% in the near future, it would hit $38K - where the 20MA is, as well as the starting point of that aforementioned 25% drop.