Look RSI value on 4 Mar 18, compare with price, then look at RSI on 23 of April, then look at price on that day, then look at RSI on 24 July and price as well.
Lower price peak, higher RSI every time.
Still room to go down on the weekly though, but I agree we could have a (perhaps only temp) bounce soon.
BitcoinBearSlayer
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Look at the RSI point on June 12th, 2018 and the couple that followed. Also notice how the price continued to decline as the RSI was rising off the bottom. That is the ideal RSI setup in my opinion to look for a long position. Again RSI in the oversold area but that does not necessarily mean the price will not continue to decline. I'd watch for for a turn up on the RSI compared to price to get a hint as to what may be coming next. Just my 2 cents. Thanks for the chart.
Lower price peak, higher RSI every time.
Still room to go down on the weekly though, but I agree we could have a (perhaps only temp) bounce soon.