📉 Bitcoin's daily RSI hits its lowest point in four months, despite a 70% increase in $BTC price.
It's worth noting that the existing RSI levels haven't been observed since Bitcoin was valued at $25,000. ✍️
BTC Price RSI Reflects $25,000 Levels: Bitcoin's price performance witnessed a 15% decline following the introduction of the United States' inaugural spot Bitcoin exchange-traded funds (ETFs). Since then, it has encountered challenges in recovering.
As traders caution about potential further downside risks, the Relative Strength Index (RSI) indicates that a reversal may be imminent. On daily timeframes, the classic momentum oscillator reached a low of 42.7 out of 100 on January 14.
