Bitcoin RSI enters 'extreme oversold' zone…"The previous two times rebounded immediately"
Summary
- Said that Bitcoin's RSI has entered an extreme oversold zone.
- Said that in the past two identical RSI situations, both were followed by immediate rebounds.
- Stated that the market is watching both a short-term technical rebound and the risk of further decline.
Bitcoin (BTC) has entered an extreme oversold zone based on the Relative Strength Index (RSI), raising expectations of a rebound.
On the 23rd (local time), crypto asset (cryptocurrency) analyst Ali Martinez said on X, "Bitcoin's RSI has entered an extreme oversold zone," and explained, "On the previous two occasions when the RSI fell to this level, a rebound followed immediately."
Generally, when the RSI falls below 30, it is interpreted as selling pressure having accumulated excessively, and is seen as a signal that the likelihood of a short-term rebound is higher.
The market is currently searching for direction between Bitcoin's potential technical rebound and the risk of further declines. If the RSI signal holds, the possibility of a short-term bottom formation is raised, but structural variables such as macro uncertainty and weakening ETF fund flows must also be watched. Meanwhile, Bitcoin is trading on CoinMarketCap at $86,658.69, up 1.58% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
