We know standard Weekly RSI is at cycle bottom levels, but let's look at it a different way... This is the Weekly RSI of Bitcoin's Realized Market Cap, which gives us a similar result to what metrics like Puell Multiple, MVRV, and NUPL tell us: Bitcoin is close to cycle bottom levels, but slightly off. The Realized Market Cap Makes For a great cycle bottom moving average as well and has caught each of them precisely. The price to reach is 42.5k and is decreasing slightly over time.

From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments