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Bitcoin RSI copies 2017 bull run as trader says $75K key for BTC price
Bitcoin is quietly copying a key feature from the 2016 bull market which kicks in at $75,000. In a post on X (formerly Twitter) on May 24, popular trader Jelle eyed what could become the next “main breakout” for BTC price action. Bitcoin analysis often points to similarities between the current bull cycle and those gone by — notably the two most recent: 2016-17 and 2020-21. While 2024 has differentiated itself in producing a new all-time high before, not after a block subsidy halving, there is still plenty of data suggesting that Bitcoin’s steepest gains are still ahead. For Jelle, the relative strength index ... (full story)