FTX head says crypto exchange could be revived, reports the Wall Street Journal. $BTC rose 1% to trade at $21,100. $ETH was up 0.6% to $1,550. Equities closed down as recession fears continued to loom, _jocelynyang_ reports
Bitcoin’s Relative Strength Readings Are in Rare TerritoryBTC’s recent 25% price surge came with a sharp uptick in momentum. A look at past data shows just how unusual the recent Relative Strength Index readings are. RSI is a widely watched momentum indicator that looks to identify areas where an asset’s price is potentially overbought or oversold.
Within the last two weeks, BTC has registered three of the 10 highest RSI readings dating to 2019. Its reading of 89.3 on Jan. 14 ranked third, with its readings on Jan. 16 and 17 ranking eighth and ninth, respectively.The momentum is likely to wane, however. To an extent, we’ve already seen that with both BTC and ETH’s RSI falling to current levels of 78 and 73, respectively. However, a second look at past data shows that we’re still swimming in relatively uncharted waters.
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