Bitcoin’s 36% drawdown from its all-time highs resulted in the relative stren Bitcoin’s 36% drawdown from its all-time highs resulted in the relative stren

Bitcoin weekly RSI falls to the most oversold levels since $15K BTC price

Bitcoin’s 36% drawdown from its all-time highs resulted in the relative strength index flashing a potential bottom signal not seen since early 2023.

Bitcoin (BTC) traders expected a short-term bounce as a key BTC price metric sank to its lowest levels in almost three years. Data from Cointelegraph Markets Pro and TradingView revealed extremely “oversold” conditions on the BTC/USD relative strength index (RSI).

Key takeaways:

Bitcoin’s “most oversold” RSI, historically tied to major BTC price rallies, suggests a price reversal in the short term.

Read more

Market Opportunity
Bitcoin Logo
Bitcoin Price(BTC)
$88,121.03
$88,121.03$88,121.03
+0.17%
USD
Bitcoin (BTC) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.