The daily RSI for Bitcoin has once again dropped below the 30 mark. This is a classic oversold zone.
Last time the RSI dipped to these levels, the market quickly reversed and started a strong rally.
The situation is repeating itself now. This gives a high probability for a local price recovery in the near term.
Considering the liquidity gathered from below and the hefty liquidity overhead, the likelihood of a bounce back looks quite strong.
For now, the priority is to wait for recovery.
Do you think BTC will bounce back soon? Drop your thoughts in the comments 👇
ETHUSDT
Perp
1,738.61
-1.94%
BTCUSDT
Perp
62,774.8
-0.98%