Analysis: Bitcoin's RSI relative to gold has fallen to a near three-year low, seen as the boundary between bull and bear.


Golden Finance reports that the price of Bitcoin against gold (BTC/XAU) has fallen to around the level of 20 ounces of gold, marking the lowest since early 2024. At the same time, the weekly RSI indicator for this ratio has dropped to about 29.5 (oversold area), approaching a three-year low. Data shows that this RSI oversold area has historically been common near bear market bottoms, with some analysts suggesting that this could mean Bitcoin is undervalued and has potential for a rebound in the future. However, there are also views that if this key support is broken, it could indicate a weakening trend.
BTC1.42%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)