coin-img-HYPEHYPE+3.49%coin-img-MOLTMOLT-17.53%coin-img-AAVEAAVE-6.52%coin-img-ASTERASTER-5.28%coin-img-BIRBBIRB-16.86%coin-img-TRIATRIA-6.25%coin-img-UNIUNI-5.56%coin-img-ZAMAZAMA-10.29%coin-img-HYPEHYPE+3.49%coin-img-MOLTMOLT-17.53%coin-img-AAVEAAVE-6.52%coin-img-ASTERASTER-5.28%coin-img-BIRBBIRB-16.86%coin-img-TRIATRIA-6.25%coin-img-UNIUNI-5.56%coin-img-ZAMAZAMA-10.29%coin-img-HYPEHYPE+3.49%coin-img-MOLTMOLT-17.53%coin-img-AAVEAAVE-6.52%coin-img-ASTERASTER-5.28%coin-img-BIRBBIRB-16.86%coin-img-TRIATRIA-6.25%coin-img-UNIUNI-5.56%coin-img-ZAMAZAMA-10.29%coin-img-HYPEHYPE+3.49%coin-img-MOLTMOLT-17.53%coin-img-AAVEAAVE-6.52%coin-img-ASTERASTER-5.28%coin-img-BIRBBIRB-16.86%coin-img-TRIATRIA-6.25%coin-img-UNIUNI-5.56%coin-img-ZAMAZAMA-10.29%

Bitcoin Weekly RSI Hits Oversold at 29.21, First Time Since June 2022, as Price Falls Below $71,000

Bitcoin's weekly Relative Strength Index dropped to an oversold reading of 29.21 as the price fell below $71,000 on Feb. 5, Tradingview data cited by BlockBeats show. The RSI, introduced in 1978 by J. Welles Wilder, tracks the speed and magnitude of price moves to flag overbought or oversold conditions, with readings below 30 typically viewed as oversold. In June 2022, Bitcoin briefly dropped below $18,000 when its RSI was around 26.2, while in November of the same year it fell to $15,600 during the FTX collapse with an RSI of 31.4; oversold signals do not necessarily mark an absolute price bottom.
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