The recent uptrend which we currently experience in the crypto market is surly appreciated to the whales activity within the ecosystem, tho at some point bitcoin failed to hold above $20k and we experienced a slight dump in price below $20k.
A widely followed crypto analyst I’d warns bitcoin investors that the current uptrend which is seen now might possibly come to a haul if there is a reversal in it’s price. Taking to social media he continued by saying that;
- “[The] 50 level on daily RSI is a ‘must-hold’ level for the bulls. All other times that we broke below the RSI uptrend line resulted in a major breakdown. We are very close to this level… Watch the 50 level on the daily RSI very closely right now. That’s the pivot zone from bull to bear, bear to bull during trends. We have to hold it to remain bullish. Falling below it results in a flush down usually.“*
At the time of writing bitcoin was trading at $23,843 with it’s RSI a bit above 50.
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