Using @StockMarketCycles's cyclic smoothed RSI indicator (which is well-suited to measuring RSI in the more volatile crypto markets) we see that BTC is just barely oversold, indicating a short-term recovery.
The cyclic smoothed RSI indicator is an enhancement of the classic RSI , adding
* additional smoothing according to the market vibration,
* adaptive upper and lower bands according to the cyclic memory and
* using the current dominant cycle length as input for the indicator.
The cyclic smoothed RSI indicator is an enhancement of the classic RSI , adding
* additional smoothing according to the market vibration,
* adaptive upper and lower bands according to the cyclic memory and
* using the current dominant cycle length as input for the indicator.
