Bitcoin’s weekly RSI has dropped to 30, suggesting that selling pressure may be waning as the market enters what analysts describe as the final phase of a downtrend. While this RSI level is often associated with bottoms in bear markets, it does not guarantee a reversal, and confirmation is still required.
Analysts note that the signal aligns with past bear-market patterns, where the RSI reenters a bottoming zone before a market turnaround. Batman points out that the weekly indicator has returned to a region that historically marked bottoms, indicating a potential turning point, though caution remains prudent until a full trend shift is observed.
SuperBro highlights a rare pattern: six consecutive weeks of lower weekly highs, a phenomenon not seen since the COVID-19 shock. If this pattern persists, it could suggest a late-stage consolidation that may present accumulation opportunities for patient investors.
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