Oversold? Bitcoin’s RSI Just Hit Its Lowest Level Since 2016
Signs are beginning to emerge that bitcoin’s sell-off today may be overextended. After hitting a 70-day low of $6,133 on CoinDesk’s Bitcoin Price Index (BPI), bitcoin’s relative strength index (RSI) hit a level (26.4) last seen in August of 2016, according to data from the Bitfinex exchange.
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