There’s one simple way to tell whether bitcoin has really bottomed. Right now, it hasn’t.
Bitcoin’s weekly RSI contains a critical level that has reliably separated bull and bear market regimes across multiple cycles. Right now, the indicator has yet to clear that line.
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Summary
- BTC’s weekly RSI remains below 41.5, a level that has historically separated bullish and bearish regimes.
- A recovery above that level would confirm that a bottom has been made, according to Material Indicators.
