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.