Bitcoin 4-Hour RSI Hits Oversold Zone
Bitcoin (BTC) fluctuated for 24 hours within 24 hours, from 99,500 US dollars to low prices of US $ 91,231. This is a continuous concern for US trade tariffs in Canada, Mexico and China. However, some encrypted analysts regard this sharp decline as a buying opportunity, which indicates that BTC may surpass and prepare to rebound.
Is Bitcoin ready to relieve the rally?
Yesterday, the cryptocurrency market experienced one of the largest selling in its history. Exceed A $ 2.3 billion liquidation affects more than 742,000 traders. This liquidation level exceeded the COVID market collapse in March 2020, and the FTX collapse in November 2022.
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Despite the economic downturn, some analysts believe that BTC may have entered the oversold territory, which indicates that potential relief rally. Encrypture analyst Caleb Franzen is in one postal On X, emphasized that the 4 -hour relative strength index (RSI) of Bitcoin has dropped to overshoot. He pointed out:
For the fifth time since August 2024, Bitcoin has more and more RSI in 4 hours. Even after Price flickered, each previous signal is an attractive accumulation cycle, even if the price makes the new short -term low.
For beginners, RSI is a momentum indicator, which measures the speed and amplitude of the recent price change to determine whether the BTC is excessive trading or oversold. 70 readings above indicate the conditions for too much purchases-potential callback-and the readings under the age of 30 represent the potential of the super condition-rebound.
According to Franzen’s chart, in 4 hours, Bitcoin’s current RSI is hovering around 24, which indicates that BTC may be in an attractive accumulation area. If the existence of historical trends, BTC may be on the edge of short -term recovery.
Is there more troubles in front of BTC?
As of the latest renewDonald Trump and his Mexican colleagues Claudia Sheinbaum have agreed to temporarily delay the proposed trade tariffs, which provides some relief for the financial market. However, there is still uncertainty about trade negotiations with Canada, causing investors to be cautious about the next step of BTC.
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At the same time, the analyst of crypto analyst Johnny instruct The “meat” of BTC’s current decline may end. Analysts added that as long as BTC continue To the low point of the transaction and open annual opening, it “compared to the rest of the market, it looks good.”
However, not all experts are optimistic. Robert Kiyosaki, a famous businessman and author, warn If Trump follows its tariff plan, BTC may face further downward pressure.
According to Kiyosaki, increasing tariffs can strengthen the US dollar, which may drive investors leave Use risk assets like Bitcoin in the short term. At the time of release, the transaction price of BTC was $ 98,644, an increase of 0.4 % in the past 24 hours.
Charts from unsplash, charts of X and TradingView.com
