Mmastodon BusinessCrypto first seen 1 d ago, last 1 d ago, peak #5
Bitcoin's RSI hits lowest level since bear market bottom
Original: Starke Confluence stützt Bitcoin Der RSI liegt auf dem tiefsten Stand seit dem Bärenmarkt-Tief. Zudem treffen Short-Term
Bitcoin traders are pointing to a rare technical setup as the cryptocurrency's RSI drops to its deepest level since the bear market low. Analysts note that several indicators, including short-term holder cost basis, the 200-day EMA and the 50-week EMA, all converge in the same support zone, which some see as a strong confluence that could mark a local bottom for the price.
Why now: Bitcoin is falling to levels not seen since the bear market, and traders are debating whether this confluence of indicators signals a bottom.
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/4492506