ETH enters a critical cycle

time:2022-01-23 03:00 source:Internet

The ETH weekly cycle shows that the RSI is below 40, which has only happened 3 times in history. 1. In the mid-term adjustment of 2016, ETH flipped from $14 to $7, 50% to the new ATH of $20, then to $6, capitulating before it finally reached $1300. 2. The sell-off between $300 and $80 when the market was bearish at the end of 2018. 3. Toss from $190 to $120 before a new bull run in 2020 begins (assuming the COVID crash is anomalous). This suggests that <40 RSI is a buy signal if you consider this to be a mid-cycle correction/start of a new bull market. If this is the end of the cycle, <40 RSI is a signal for more declines.

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