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>>Bitcoin Approaches a Historic Oversold Indicator as an Analyst Highlights a Cycle Reset

Bitcoin Approaches a Historic Oversold Indicator as an Analyst Highlights a Cycle Reset

crypthub

about 3 hours ago

Weekly RSI Near Historic Lows

Bitcoin’s weekly RSI has slipped to about 15.6, the lowest reading since 2016. Only the November‑December 2018 and June‑July 2022 periods recorded lower values during sharp downturns. The drop signals extremely weak momentum, approaching oversold territory.

Long‑Term Support Remains

Despite the weak RSI, Bitcoin is trading above its 200‑week moving average, roughly $58,500. It stays below shorter‑term weekly averages, highlighting short‑term pressure. The 200‑week line offers a nearby anchor for longer‑term buyers.

Cycle Timing Shifted After Pre‑Halving High

Analyst Rekt Fencer argues the record high before the halving broke the traditional halving‑based cycle model. He forecasts the upcoming cycle will contract to a 700‑800‑day window, not the longer spans seen before. This adjustment places the likely cycle low around July‑August, comparable to the deep pullback zone of the previous cycle.