Overbought Bitcoin Could See 400% Rally Says Analyst; Ethereum Breakout Targets $2,150
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Bitcoin's weekly RSI indicator is in "overbought" territory, which analyst Cheds says preceded a 400% BTC price rally in October 2020.
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Cheds argues that overbought signals are bullish for Bitcoin, with its biggest gains often occurring in this state.
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Cheds notes Ethereum may see a bullish breakout if it can break above and hold the $2,150 level.
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The article discusses Bitcoin trading around $37,000 and Ethereum near $2,037 at time of writing.
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The Daily Hodl article cites crypto analyst opinions on potential bullish signals for Bitcoin and Ethereum.