BTC traders looking for gains may rely on the path of this price indicator

As per Twitter analyst, Ali, BTC’s RSI has been quite a reliable indicator to indicate the right time to buy and sell BTC. While the analysis stood true for most instances, BTC was also seen experiencing healthy demand.traders have been focused on short-term profits. As a result, prices have been locked in a relatively narrow range compared to their highly volatile nature in the past.Every market condition offers some opportunity, as has been the case with Bitcoin’s narrow range.

X-based crypto analyst Ali recently noted that the Relative Strength Index has been quite a reliable indicator for identifying market tops and bottoms during the. According to his analysis, buying pressure has been manifesting mostly when the RSI drops below the 30.35 level. On the other hand, sell pressure tends to manifest above the 74.21 RSI level. Note that these observations have been taking place in the four-hour time frame.We decided to put the idea to the test and found that it worked for the most part. However, there were instances when the market crashed or rallied beyond the RSI levels where price pivots were expected. A good example of such an incident was the rally that occurred after mid-June and the crash that happened in August.

The two instances noted above underscore two instances where prices continued in their trend despite going past the RSI pivot levels. BTC’s hovered at 59.80 at the time of writing, and the same indicator is currently oriented towards the upside.Perhaps one takeaway here was that there were other key observations to consider before executing a position. Especially if it is of the leveraged kind. It helps to gather more data.

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