The two-week chart of the cryptocurrency allows us to see the 11-year-old RSI channel, which has been tested at least four times and acted as an accurate tool for determining local reversal points.
Thanks to the channel, back in 2019, we saw the beginning of the biggest uptrend on the market when BTC reached its current ATH of $69,000. The channel also worked in the opposite way, allowing us to see almost the exact point of the reversal and the end of theThe Relative Strength Index is a tool that helps investors to determine when an asset is overbought or oversold by comparing the price movement with various moving averages.
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