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Bitcoin weekly RSI falls to the most oversold levels since $15K BTC price
Bitcoin traders expected a short-term bounce as a key BTC price metric sank to its lowest levels in almost three years. Data from Cointelegraph Markets Pro and TradingView revealed extremely “oversold” conditions on the BTC/USD relative strength index (RSI). Bitcoin’s 36% drop to $80,500 on Nov. 21 from its all-time high of $126,000 has significantly impacted high-time frame RSI. On the weekly chart, the RSI fell from local highs of 64 in September to 35 at the time of writing, levels last seen in January 2023 when Bitcoin traded around $15,500-$17,000. “Historically, when the weekly RSI tags this level, ... (full story)
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