Analysis: Bitcoin may be nearing a temporary bottom; the market is focused on key RSI signals.

Bitcoin's Relative Strength Index (RSI) is approaching a key range, and the market is closely watching whether it forms a "higher low" to confirm a potential continuation of the uptrend. Historical data shows that Bitcoin bear market bottoms are often accompanied by bullish divergence in the weekly RSI. Trader Jelle stated that once the weekly RSI forms a higher low again, the market will enter a critical observation phase; even if there is still room for price decline, as long as the RSI starts to rise, it often means that a bottom is near or has already been reached. Looking back, the last time the RSI turned bullish was at the end of the 2022 bear market, initiating an uptrend that lasted for over a year. At that time, the market was also watching for a recovery of the 200-week exponential moving average (EMA) as important support, a move that occurred in March 2023. In the current structure, although the bearish flag pattern has not completely failed, the technicals have released potential reversal signals. (Cointelegraph)