NewsBTC
5 hour ago
1 0

Analyst Finds Bitcoin RSI Parallels with 2012-2015 Cycle Suggests Bottoming

A crypto analyst has identified similarities between the current Bitcoin (BTC) cycle and the 2012-2015 period, focusing on the Relative Strength Index (RSI) and price action. During the previous bull run, BTC experienced significant growth before a downturn, which seems to be repeating in the current cycle.

Bitcoin RSI Comparison Indicates Potential Bottom

  • Analyst Tony Severino highlighted parallels in RSI trends and price movements between the 2023-2026 cycle and 2012-2015.
  • The comparison looks at critical points: formation of a price bottom, initial peak, momentum peak, and Bearish Divergence leading to corrections.
  • In 2012-2015, BTC's RSI gradually rose with bursts of upward momentum, then declined to a mid-range level around 44.

    • Bitcoin

  • Currently, BTC's RSI has decreased to approximately 38, mirroring past mid-range values.
  • Severino suggests Bitcoin might be nearing a meaningful bottom if patterns repeat from the earlier cycle.
  • Potential for a year-long accumulation phase similar to a decade ago is noted, although there are no guarantees.

New BTC Bullish Crossover Identified

  • Crypto analyst AO reports a Bullish Crossover in Stochastic RSI, historically preceding significant BTC price surges.
  • Four prior Bullish Crossovers led to substantial price increases; the latest signal indicates potential for another surge.

    • Bitcoin