BITCOIN The RSI is the key and is hanging from a thread.

Bitcoin (BTCUSD) on the 1D time-frame is consolidating while the RSI just bounced on its Higher Lows trend-line that started after the FTX crash (November 09). This is as tight as it can get in terms of a Support as throughout the whole year, when the RSI broke below its Higher Lows, the price dropped aggressively (red zones).

Right now we are on a hold or break point. Do you think this pattern will continue and a break below the RSI Higher Lows will deliver a new drop of at least -26% (that would push the price to around 13500) or this time is different?

Feel free to let me know in the comments section below!


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