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.
