| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107349.0700000000 |
| ETH | $2430.8250000000 |
| BNB | $646.4492700000 |
| XRP | $2.1997970000 |
| ADA | $0.5631688000 |
| SOL | $147.5213000000 |
| DOGE | $N/A |
| DOT | $3.3646900000 |
| LTC | $86.1955000000 |
| LINK | $13.2116100000 |
Category: CRYPTO NEWS
The post Bitcoin 4-Hour RSI Hits Oversold Zone appeared on BitcoinEthereumNews.com. Este artículo también está disponible en español. Bitcoin (BTC) has had a volatile 24 hours, plunging from $99,500 to as low as $91,231 amid mounting concerns over impending US trade tariffs on Canada, Mexico, and China. However, some crypto analysts see this sharp decline as a buying opportunity, suggesting that BTC may be oversold and poised for a rebound. Is Bitcoin Poised For A Relief Rally? Yesterday, the crypto market experienced one of its largest sell-offs in history, with over $2.3 billion in liquidations affecting more than 742,000 traders. This level of liquidations surpasses those seen during the COVID market crash in March 2020 and the FTX collapse in November 2022. Related Reading Despite the downturn, some analysts argue that BTC may have entered oversold territory, signaling a potential relief rally. Crypto analyst Caleb Franzen shared insights in a post on X, highlighting that Bitcoin’s 4-hour Relative Strength Index (RSI) has dipped into oversold levels. He noted: For the 5th time since August 2024, Bitcoin’s 4-hour RSI is becoming oversold. Each of the prior signals were attractive accumulation periods, even if price made new short-term lows after the signal flashed. For the uninitiated, the RSI is a momentum indicator that measures the speed and magnitude of recent price changes to determine whether BTC is overbought or oversold. A reading above 70 suggests overbought conditions – potential for a pullback – while a reading below 30 indicates oversold conditions – potential for a rebound. According to Franzen’s chart, Bitcoin’s current RSI is hovering around 24 on the 4-hour timeframe, indicating that BTC may be in an attractive accumulation zone. If historical trends hold, BTC could be on the verge of a short-term recovery. Source: Caleb Franzen on X Is There More Trouble For BTC Ahead? As of the latest updates, Donald…
2025-02-04T04:39:09+00:00