A key metric indicates that Bitcoin (BTC) is due for a bounceback, according to Raoul Pal, CEO of Global Macro Investor, a global macro advisory publication. What Happened: Pal made the observation on Twitter with regard to the Relative Strength Index. The RSI is an indicator used by technical analysts to measure the magnitude of recent price changes in order to appraise overbought or oversold conditions of an asset. The RSI is shown as a line graph that moves between two ends and can be depicted between 0 to 100. Pal said that the weekly RSI is closer to the levels seen in the corrections in the first part of the 2017 bull run “before bitcoin hit hyperspace.”