Bitcoin dropped from $64,000 to $60,400—a 6% loss—over the previous weekend. Cryptocurrency prices dropped dangerously close to $60,000 before making a full recovery the week after.
Bitcoin's recent moderate strength suggests that the upward trend might be sustained. The relative strength index (RSI) shows that Bitcoin has entered oversold territory, which is the reason behind this. The volatility and acceleration of price changes are quantified by this technical indicator. If the value is less than 30, it means the asset is oversold and likely will recover.
