Bitcoin's RSI signals show patterns similar to the recent lows observed in 2022

robot
Abstract generation in progress

The Satoshi Flipper analyzer has highlighted a similar technical situation on Bitcoin: the weekly relative strength index (RSI) currently shows oversold levels comparable to those recorded about four years ago.

This analogy between the two periods is significant for traders seeking historical benchmarks. In June 2022, the Bitcoin market was going through a critical phase. Prices had plummeted dramatically, dropping 41% from $31,700 to $18,700, marking one of the worst monthly performances ever recorded for Bitcoin.

The convergence of current technical signals with this previous period suggests that market dynamics exhibit structural similarities worth noting for market participants studying Bitcoin’s historical cycles.

BTC-0.59%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)