Crypto analyst and trader Ali Martinez recently shared his insights, stating that "Every bear market in Bitcoin (BTC) history started when the monthly RSI hit 92. Currently, the RSI is 75." RSI, or Relative Strength Index, is an indicator that measures whether an asset is overbought or oversold. Readings below 30 indicate oversold conditions, while readings above 70 indicate overbought conditions. Martinez's analysis suggests that the current RSI level for Bitcoin is not yet in overbought territory and that there is room for further upside. However, it is important to note that the RSI is just one indicator and should not be used in isolation when making investment decisions.
Cryptocurrency Analyst Highlights RSI as Key Indicator for Bear Market
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BTC
94,175.77
+0.21%
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