Bitcoin - The Next Buying Opportunity

The next Pre-Halving bargain buying opportunity for Bitcoin

Welcome to the Rekt Capital newsletter, a resource for investors who want to better navigate the crypto markets with the help of cutting-edge crypto research and unbiased market analysis.

The Monthly RSI

Last week, we spoke about how the RSI is approaching the orange-dashed mid-point on the Monthly RSI and how this rejection for the RSI could occur closer to the April 2024 just in time for a classic Pre-Halving retrace.

We're not too far from the orange-dashed mid-point of the RSI.

But what if the RSI could overextend beyond that orange-dashed trendline?

It's something worth being open to because even though there is a clear Lower High developing to form the orange-dashed mid-point for the RSI...

There is also a cluster of resistance developing a little higher (red box) where both 2016 and 2019 price rallies rejected from.

Generally, I'd treat the orange-dashed mid-point as a warning signal for a Local Top once the RSI reaches it and if overextension to the red boxed resistance occurs, that could be considered as a final alarm before a rejection occurs.

Important to note that this analysis could be useful for those who want to re-accumulate on a retrace closer to the Halving event.

Because after the Halving, the RSI will break beyond the mid-point comfortably and rally to the upper half of this overall Macro Wedge (red).

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