What is the Relative Strength Index (RSI)? The Relative Strength Index (RSI) is a popular technical indicator used by traders to measure the momentum of a particular asset and identify potential overbought or oversold conditions. It is calculated using a formula that takes into account the average gains and losses over a specified period of time, typically 14 days. The RSI is expressed as a number between 0 and 100, with values above 70 considered overbought and values below 30 considered oversold. Bitcoin's RSI Signal: Oversold Territory According to Martinez, Bitcoin's daily RSI has recently dipped into the oversold territory, reaching a low of 29.47 on X day. This is a significant shift from the previous week, where the RSI was hovering around the 60 mark. This sudden drop has caught the attention of many traders and analysts, as it could be an indication of a potential buying opportunity for Bitcoin. The Historical Significance of Oversold RSI for Bitcoin Martinez...
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