Bitcoin Stablecoin Supply Ratio RSI 14 Is Near A “Buy” Signal
As explained by an analyst in a CryptoQuant , whenever the SSR RSI has gone below a value of 25 during recent years, the crypto has observed a buy signal.The “Stablecoin Supply Ratio” (or SSR in brief) is an indicator that measures the ratio between the market cap of Bitcoin, and that that of all stablecoins.
The value of the metric seems to have been going down recently | Source:
The “Relative Strength Index” (RSI) records the rate of change in any quantity, which in this case is the Bitcoin SSR. In the above graph, the quant has marked the relevant zones of trend for this indicator.
It looks like whenever the SSR RSI 14 has attained values above 75, the price of the crypto has observed a sell signal. While the metric reaching values lower than 25 has instead acted as a buy signal. Recently, the indicator’s value has been going down and is now near the 25 threshold. However, the buy signal hasn’t formed just quite yet so it remains to be seen whether the metric continues this trend and breaches the 25 level or not.BTC Price
At the time of writing, Bitcoin’s price floats around $19.7k, down 7% in the past week.
Looks like the crypto's value has gone down | Source:
Featured image from Aleksi Räisä on Unsplash.com, charts from TradingView.com, CryptoQuant.com