Bitcoin has always increased strongly in price whenever RSI is in the OVERSOLD state.
Since Bitcoin's bottom price of $15.5k in November 2022 until now, every time the RSI (1D chart) oversold, Bitcoin price usually no longer drops deeply and rebounded strongly in a short time immediately afterward. Will this happen again this time?
This is entirely possible when the FUD related to Bitcoin that has taken place in recent days no longer causes the price to drop sharply, such as the German government selling Bitcoin or Mt. Gox pays Bitcoin to creditors.
Besides, cash flow gradually returned to Bitcoin when Spot Bitcoin ETF funds recorded inflows worth 31 million USD after 7 consecutive days of outflows.
