$BTC 4-hour RSI(14) is 22.2, entering oversold territory, with the current price at 68227.28.
Oversold means the short-term drop has been sharp; it doesn't mean a bottom is imminent. In a weak market, RSI can remain subdued below 30 for a long time. More worth watching is bullish divergence—the price makes a new low, but RSI does not.
Indicators are a reference, not a switch; ultimately, you still have to look at price itself.
Oversold means the short-term drop has been sharp; it doesn't mean a bottom is imminent. In a weak market, RSI can remain subdued below 30 for a long time. More worth watching is bullish divergence—the price makes a new low, but RSI does not.
Indicators are a reference, not a switch; ultimately, you still have to look at price itself.