Bitcoin’s RSI Reaches Overbought Level

Cryptocurrency analyst CredibleCrypto on X has observed that Bitcoin’s monthly Relative Strength Index (RSI) has once again entered the overbought zone after several months of staying below it. He reviewed historical market data from the two previous instances when the monthly RSI reached this level, noting significant price increases in both cases: a gain of $22,200 and $33,000 respectively. Currently, Bitcoin’s price has surged approximately $18,000 this month alone, with around 10 days remaining until the end of the month.