According to the Stochastic Relative Strength Index (Stoch RSI), one of the most used indicators, Bitcoin (BTC) continues to be in the “oversold” zone.
Bitcoin, which has been in a downward trend for about 1 year, has been in the last 1 month. $20,500 level watching below. The Stoch RSI, which shows overbought and oversold, was previously on the Bitcoin chart. April 2014-September 2015 and April 2018-April 2019 It is at the bottom levels, which is the “oversold” region, seen between the dates of.
Many long-term traders follow this indicator and find bottoms. from oversold territory Known to buy. Looking at the 1-month chart of Bitcoin throughout history 3rd time These levels in the indicator seen by many commentators and analysts are for long-term investors. a big chance seen as.
When the indicator reaches these levels earlier, Bitcoin will be in the short term. Nearly 300% rise performance and continued the rise of a minor correction. where we are now $19,000 from the levels 300% Bitcoin if it rises, Coming to the level of 75 thousand dollars You will have made a new all-time high (ATH).
Reflecting the sentiments of investors in the market while the Stoch RSI is in oversold territory “Fear and Greed” index is the “extreme fear” region. in 20 levels watching. Many investors “buy the fear” It is thought that he acts with his mentality.
