Looking at the long term weekly chart of Bitcoin, a lot of similar situations regarding the stochastic RSI can be found. As the stochastic RSI is completely maxed out at the moment of writing, a retest of the 200 weekly MA seems increasingly likely to happen.
In the chart, I indicated nearly all moments at which the stochastic RSI topped and the belonging percentual drop, except for one or two minor drops.
In the chart, I indicated nearly all moments at which the stochastic RSI topped and the belonging percentual drop, except for one or two minor drops.