Bitcoin Nears Oversold Territory as Analysts Look for September Rebound
- Bitcoin’s daily RSI is nearing “oversold” levels, a technical signal that has historically marked market bottoms
- Global M2 liquidity is rising, providing a macro tailwind that has historically fueled crypto rallies
- On-chain data shows institutions and businesses are still accumulating BTC, buying 4x faster than it’s mined
After a red August, a confluence of technical, macro, and on-chain indicators are now signaling that a crypto market rebound could be on the horizon for September.
While Bitcoin’s momentum is weak, its Relative Strength Index (RSI) is approaching historically significant oversold levels, just as global liquidity is rising and on-chain data shows smart money is still accumulating.
Is Bitcoin’s Chart Flashing a Technical Buy Signal?
The primary technical case for a rebound is based on Bitcoin’s RSI and its historical performance in September.
What is the RSI telling us now?
With Bitcoin trading around $109,682, the daily RSI sits at a weak 41.40, hovering just above the classic “oversold” threshold of 30. Historically, dips into this zone have marked major market bottoms and reversal points. While the MACD indicator remains bea…
The post Bitcoin Nears Oversold Territory as Analysts Look for September Rebound appeared first on Coin Edition.
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Bitcoin (BTC) Price Prediction: Breakout or Breakdown Next?
Bitcoin Nears Oversold Territory as Analysts Look for September Rebound
- Bitcoin’s daily RSI is nearing “oversold” levels, a technical signal that has historically marked market bottoms
- Global M2 liquidity is rising, providing a macro tailwind that has historically fueled crypto rallies
- On-chain data shows institutions and businesses are still accumulating BTC, buying 4x faster than it’s mined
After a red August, a confluence of technical, macro, and on-chain indicators are now signaling that a crypto market rebound could be on the horizon for September.
While Bitcoin’s momentum is weak, its Relative Strength Index (RSI) is approaching historically significant oversold levels, just as global liquidity is rising and on-chain data shows smart money is still accumulating.
Is Bitcoin’s Chart Flashing a Technical Buy Signal?
The primary technical case for a rebound is based on Bitcoin’s RSI and its historical performance in September.
What is the RSI telling us now?
With Bitcoin trading around $109,682, the daily RSI sits at a weak 41.40, hovering just above the classic “oversold” threshold of 30. Historically, dips into this zone have marked major market bottoms and reversal points. While the MACD indicator remains bea…
The post Bitcoin Nears Oversold Territory as Analysts Look for September Rebound appeared first on Coin Edition.
Read More