Please take a moment to look at how low the monthly RSI is.
People may look at the previous bear markets and get confused, let me tell you that a single high timeframe divergence(BTC making higher high and RSI making lower high on weekly) can change the whole bear market bottom narrative.
For the reason that RSI couldn't go as high as 2017-2018 now gives us a little room to drop compared to previous bears, not to mention that BTC didn't rally as much as previous times due to diminishing volatility..
THAT is the reason why even though dropping %40 THE RSI may hit the previous bear market bottoms..
Not saying we can't drop below 40k but dropping below that should make smart investors think that the bottom is in.
People may look at the previous bear markets and get confused, let me tell you that a single high timeframe divergence(BTC making higher high and RSI making lower high on weekly) can change the whole bear market bottom narrative.
For the reason that RSI couldn't go as high as 2017-2018 now gives us a little room to drop compared to previous bears, not to mention that BTC didn't rally as much as previous times due to diminishing volatility..
THAT is the reason why even though dropping %40 THE RSI may hit the previous bear market bottoms..
Not saying we can't drop below 40k but dropping below that should make smart investors think that the bottom is in.