Matrixport: Bitcoin is oversold, and the current RSI level hits the historical bottom signal of Bitcoin
Matrixport has released an analysis chart stating that it is still important to remain cautious due to ongoing macroeconomic and geopolitical risks, as well as poor earnings expectations for US technology companies. However, Bitcoin appears to be oversold, with its RSI reaching 30%. Historically, such low RSI levels have been a bottom signal for Bitcoin. Although this does not guarantee that the price will not further decline, it indicates that the current downward momentum may slow down. It is worth noting that after the RSI reached such low points in recent times, buying opportunities appeared within a few days.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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