Bitcoin Reaches Longest Stretch Ever Without A Bull Run
Bitcoin is known for its explosive price movements — both bullish and bearish. However, Relative Strength Index data suggests the top cryptocurrency by...
- Bitcoin has gone the longest stretch ever without a bullish impulse, according to Relative Strength Index (RSI) data.
- The last major bull market for Bitcoin began in late 2020, and prior to that, there was a short-lived rally in 2019 and a bullish market throughout 2017.
- The current lack of a true bull run has reached a record length, as indicated by the RSI.
- Bitcoin's price movement is being awaited by investors, and an overbought RSI signal could fuel a fast and furious price increase.
- The previous longest bear market lasted 959 days before becoming fully overbought on the weekly timeframe.
The article discusses the lack of a true bull run for Bitcoin and the anticipation for an overbought RSI signal. The sentiment is neutral, with a hint of optimism for a potential price increase.