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Monthly RSI in the 35-38 range is a historically great buy point. Currently at 43, so still a bit off. Let's wait a bit longer.
That's the question everyone's been asking.
There are many ways to get a glimpse of where $BTC might bottom.
But, here's a simple price action method that has worked for the past 15 years.
The RSI indicator on the monthly timeframe.
Historically, once it reaches oversold levels of 40-50, Bitcoin bottoms out.
But wait, that's the level it's at now.
Taking a bigger look, the RSI appears to be in a slight decline, forming a downward bearish channel.
The RSI is currently at 43.58. Based on the trendline, the next bottom should be around 35-38.
So we're probably not there yet, but we're very close. And even at current price, BTC is already interesting.