What is Relative Strength Index (RSI) ?The Relative Strength Index (RSI) is a momentum indicator used in technical analysis to measure the magnitude of recent price changes to evaluate overbought or oversold conditions in the market. It ranges from 0 to 100, with values below 30 generally indicating an oversold condition and values above 70 suggesting an overbought condition.
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If bitcoin doesn't follow this , these are some supports level Bitcoin close the weekly candle above the $25,000 key level. We will see a last wave toward the $29,000-$32,000 resistance level. You can start booking profit or increase your stop loss as we might see a test of the $25,000 level in the coming weeks.
if btc doesnt close above $28700 then the reversal patterns for price action start to perform and bounce back previous week price.
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