Bitcoin weekly RSI falls to the most oversold levels since $15K BTC price
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Bitcoin's weekly RSI has fallen to its most oversold levels since it was priced at $15,000, suggesting a potential short-term price reversal. Historically, such RSI levels have preceded major BTC price rallies. Despite a 36% price drop, Bitcoin is considered undervalued based on its network value-to-transaction ratio. Analysts are divided on whether a price bounce is imminent, with some cautioning that further declines are possible. The current market setup indicates a transition from undervaluation towards equilibrium, a phase linked to accumulation and healthier price discovery.
Source: Cointelegraph The copyright of this article belongs to the original author/organization.
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