Bitcoin's daily Relative Strength Index (RSI) is approaching its lowest level since August 2023, with the price of Bitcoin near a 5.5-week low. The Nasdaq-100 was trading around 18,500, approximately 6% lower than the current level. The correlation between Bitcoin and the Nasdaq-100 has decoupled during this period, suggesting a divergence in their movements. Previous instances of Bitcoin RSI reaching similar levels have resulted in strong rebounds within days or weeks, indicating a potential buying opportunity in the current market conditions.
#Bitcoin daily RSI hits levels not seen since August 2023 when $BTC was around $25,000 Use this information as you please
#Bitcoin Now most oversold since August 2023! 👀 Daily RSI at 26! Miners and other proxies hanging in there - Diversification in the sector between "conventional" miners and HPC/AI tickers is "Saving" my portfolio! https://t.co/LaG8vUdMNz
#Bitcoin Now most oversold since August 2023! 👀 Daily RSI at 26! Miners and other proxies hanging in there - Diversification in the sector between conventional miners and HPC tickers is "Saving" my portfolio! https://t.co/ySSyzZ2HX3
Bitcoin Daily RSI was sold out in this flush (see arrows) - the last time Bitcoin Daily RSI was sold out was mid August 2023. This is a significant event marking the bottom of the next fractal. #Bitcoin https://t.co/lxaXtcL1Rv
#BTC momentum hitting 10-month low and oversold levels unseen since August 2023. https://t.co/lJGPhC3wiP
1D BTC RSI hitting oversold for first time in 10 months https://t.co/4oz3XXdx63
The last time #Bitcoin RSI was at this level on the daily chart the price was just $26,000. Every time Bitcoin RSI has hit these levels in the last 2 years it has bounced back STRONGLY within days/weeks. #BuyTheDip in bull markets... 👀 https://t.co/gD0MFmaoqN
$BTC DAILY RSI is finally touching oversold (has not closed there yet). This is the first time since August, 2023. RSI did not even go oversold when Bitcoin recently hit $56,000. https://t.co/FAuUdoC6QM
The last time the BTC daily RSI was this low the price of Bitcoin was $25k
$BTC Bitcoin Daily RSI nearing its lowest since August 2023. Bitcoin itself is near a 5.5wk low. Nasdaq-100 was trading around 18,500 then or about 6% lower than today. Correlation has certainly decoupled from $QQQ during this time frame. Either Q’s gotta go down or BTC has…