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Bitcoin due new 'big rally' as RSI copies 2018 bear market recovery

Published 01/21/2023, 10:55 AM
Updated 01/21/2023, 06:00 PM
© Reuters.

Bitcoin (BTC) is in for a new “big rally” as market strength copies conditions from after the 2018 bear market.

According to the latest analysis, BTC/USD will continue to head higher “after some consolidation” thanks to key signals from its relative strength index (RSI).

BTC/USD 1-week candle chart (Bitstamp) with RSI. Source: TradingView
BTC/USD annotated chart. Source: Trader Tardigrade/ Twitter
BTC/USD 1-day candle chart (Bitstamp) with RSI. Source: TradingView

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