Bitcoin traders are eyeing a potential short-term bounce as BTC's relative strength index (RSI) hits its lowest point in months. After a sharp 5% drop, Bitcoin's RSI plunged from 81.7 to 16.6 within a day, indicating an "oversold" condition. Historically, such dips often precede price rebounds. Analysts suggest that this RSI overreaction could lead to an upward price correction. Despite current lows, some traders predict further declines before a significant market recovery. As always, investors should research before making any trading decisions.