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Zoye

9 год тому

Bitcoin May Already Have Found Its Floor Elsewher

Bitcoin May Already Have Found Its Floor

Elsewhere, an analyst has called attention to Bitcoin’s Relative Strength Index (RSI), which recently dipped below 30, an oversold area. Analyst Elja states that Bitcoin’s RSI dropping below 30 has acted as a bottoming signal for some time.1000030986

He notes that the average market path shown in his chart makes it clear that periods of oversold conditions have historically been followed by strong recoveries rather than prolonged weakness. According to Elja, if this pattern repeats, Bitcoin may have already bottomed out.
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