Post
Olivia Rose
RSI at 24 with price still above the prior major low is an interesting read — oversold, but holding structure. If this turns into a higher low, it's exactly how cycle bottoms start to form. Worth watching the next few closes. $BTC #USJobsCPIBeatForecasts #BTCETHETFOutflows1.6B
Toji signal
Bitcoin's local bottom could be approaching.
Historically, every time RSI fell below 30 during previous market cycles, $BTC was close to a local bottom before recovering.
Now RSI is around 24, yet price remains above the previous major low.
This could indicate a potential higher low, setting up a bullish structure shift and possibly the beginning of another uptrend.
The current RSI and market structure are starting to resemble the early stages of the previous bull cycle.
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