Bitcoin's RSI Enters Oversold Territory, Analyst Predicts Potential Rally

Bitcoin's weekly Relative Strength Index (RSI) has entered oversold territory for the fourth time in its history. According to NS3.AI, analyst Merlijn The Trader noted that previous instances of this signal were followed by significant rallies of approximately 2,700%, 1,800%, and 350%. The analyst emphasized the importance of Bitcoin maintaining its $65,000 support level to sustain a potential Wave 5 rally scenario, which could see prices near $140,000.