Bitcoin RSI Could Rally Into Halving, Pushing BTC To $8,000 By Mid-20205.8

As Bitcoin moves ever closer to its block reward reduction, analysts are becoming more and more convinced that BTC will rally into the quadrennial event. One analyst notes that as this market nears the auspicious shift in issuance, the cryptocurrency could double by value, especially considering historical trends.

PlanB, as the respected analyst is known, claims that at long last, the one-month Relative Strength Index (RSI) measure has begun to trend higher. He adds that historically, in months when Bitcoin’s issuance schedule moves, RSI reaches 70, which implies the asset is overbought.

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