There's one simple way to tell whether bitcoin has really bottomed. Right now, it hasn't.
Hex37's read
- Bitcoin's weekly RSI is a key indicator for market regimes.
- A critical level on the RSI separates bull and bear markets.
- Currently, Bitcoin's RSI has not cleared this critical level.
What it means for traders
- The current Bitcoin RSI suggests the market has not yet bottomed.
- Traders may want to remain cautious or look for further confirmation before entering long positions.
Affected markets
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