ifelight

RSI shows Bitcoin will be moving upward soon

INDEX:BTCUSD   Bitcoin / U.S. Dollar
The Relative Strength Indicator ( RSI ) simply shows the strength of a trend, even when prices were increasing during January to April, the RSI showed a decreasing strength of the trend, its a reversal signal, that prices where about to reverse downward, this type of signal are good to know whether there may be a reversal in the trend. But we could see that since May 20, there has been an increase in the upward strength of the trend even though it is not showing in the prices. They tend to reflect in the prices afterwards, so if the Bitcoin RSI breaks the long term RSI resistance line (the red dashed lines). I think we will see a drastic upward movement in the prices.

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