Bitcoin Weekly “Relative Strength” More Powerful Than Record 2017 Rally

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Bitcoin price over the holidays touched nearly $35,000 per coin, starting off 2021 with an enormous bang. Last week’s candle was the largest in the asset’s history, dollar for dollar, with over $8,000 added from open to the top of its wick. It also resulted in such a powerful reading on the weekly Relative Strength Index, it now trumps the momentum seen in 2017 that put Bitcoin on the map in the first place. Here’s what this could mean for the incredibly bullish cryptocurrency, but it is not all good news. Bitcoin Bulls Exhibit More ‘Relative Strength’ Than In Historic 2017 Rally 2020 was an eventful, world-changing year. Such catastrophic events like a pandemic and economic collapse, have in the past propelled technological adoption even faster. And that is precisely what is happening with Bitcoin this year, as the world attempts to figure out how to preserve their wealth in…

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