- Rekt Capital diagnosed the possibility of Bitcoin forming a bottom around $70,000.
- It was stated that Bitcoin's daily RSI is 38 and weekly RSI is 43.
- It was explained that Bitcoin may fall to $70,000 before recovering.
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Virtual asset (cryptocurrency) trader Rekt Capital recently diagnosed via X (formerly Twitter) that Bitcoin (BTC) may form a bottom around $70,000.
Citing the daily chart's Relative Strength Index (RSI), he explained, "The current daily RSI is estimated at 38. The weekly chart's RSI is 43, which is the lowest level since the bull market began in early 2023," adding, "Bitcoin may fall to $70,000 before recovering."
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