The monthly RSI of Bitcoin enters overbought territory, observes an analyst

According to Odaily, cryptocurrency analyst CredibleCrypto highlighted on platform X that the monthly Relative Strength Index (RSI) of Bitcoin has once again entered the overbought territory after several months. He analyzed the market performance during the last two occasions when the monthly RSI entered this territory, noting that the monthly candle rose to $22,200 and $33,000, respectively. Currently, the price of Bitcoin has increased approximately $18,000 this month, and there are about 10 days left until the monthly close.