Bitcoin (BTC) is now flashing its most oversold signal since the COVID-19 crash, raising the odds of a relief rebound toward $70,000 in the coming weeks.
Key takeaways:
- Bitcoin’s daily RSI has dropped to around 15.5, its most oversold reading since the March 2020 COVID crash.
- Similar oversold RSI readings in 2020 and February 2026 preceded sharp relief rebounds of about 50% and 30%, respectively.
BTC refuses to go under $60,000 amid extreme oversold conditions
As of Saturday, Bitcoin’s daily relative strength index (RSI) stood near 15.5, well below the 30 level that typically marks oversold conditions and its lowest reading since the March 2020 market crash.
The extremely oversold reading followed a roughly 30% decline in BTC over the past month,…
more
Source cointelegraph.com
FTC: We use income earning affiliate links. More on Sposored links.
Terms of use and third-party services. More here.
Terms of use and third-party services. More here.