I recently noticed an analysis from K33 about the current state of Bitcoin. According to that, BTC has just fallen into an extremely oversold zone on the weekly chart - the weekly RSI index has dropped to 26.84, which is the third-lowest level since 2018. Actually, this is not the first time; since 2018, similar situations have occurred 10 times.



The interesting part is that historical data shows that after such periods, the average profit 30 days later is about 13%, and over 90-180 days, it can reach 62-101%. Although the current market sentiment is quite pessimistic (funding rate negative, signals from 2018 also appeared ), but looking at history, these times are often good buying opportunities.

Currently, Bitcoin is around 77.6K, up slightly by 0.7% in 24 hours. Despite tense geopolitical situations, Bitcoin remains quite stable. As analyst K33 comments, the worst phase seems to be over, now it's just a matter of waiting.
BTC-1.24%
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