So, here’s the deal. Some crypto market technician—let’s call him Tony—is out there on X (formerly Twitter, but who cares?) debating whether Bitcoin has peaked. Apparently, the Relative Strength Index (RSI) is slacking off, not hitting those “extreme” levels it used to. You know, like that one friend who always says they’ll show up to the party but then bails at the last minute. Classic RSI. 🙄
Historically, Bitcoin’s indicators have been like overachievers during major cycle tops. But this time? The RSI is just chilling, not even trying to break a sweat. Bitcoin’s hitting new all-time highs, and the RSI is like, “Eh, I’m good.” Tony’s over there analyzing charts, scratching his head, and wondering if this is a bearish signal or if Bitcoin’s just taking a nap. 🛌
Tony’s big argument is that lower highs on the RSI, combined with higher highs in Bitcoin’s price, could mean the market’s losing steam. He’s comparing this cycle to past ones, where the RSI was all, “90? Easy.” But now? It’s barely hitting 70. It’s like Bitcoin’s gone from running marathons to binge-watching Netflix. 📺
Here’s the kicker: Tony’s warning everyone not to assume Bitcoin has to hit those past extremes to confirm a market top. He’s like, “Hey, history doesn’t always repeat itself, okay? Stop being so predictable!” He even brought up the S&P 500 from the 1950s and 1960s, where a lazy RSI preceded a market meltdown. So, yeah, maybe Bitcoin’s not destined for a lower high, but it doesn’t need to hit extreme RSI levels to crash the party. 🎉
And then, in true Larry David fashion, Tony drops the bomb: Bitcoin’s already hit its market top for this bull cycle. Someone asked him if it peaked when it surged past $109,000, and he’s like, “Yeah, obviously.” Apparently, it happened right after Donald Trump’s inauguration. Because of course it did. 🚀
So, there you have it. Bitcoin’s RSI is lazy, Tony’s overanalyzing, and Larry David is just here to remind you that nothing in life—or crypto—is ever as predictable as you think. Pretty, pretty, pretty good. 👌
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2025-03-22 01:17