Analysis: Bitcoin relative to gold RSI falls to a near three-year low, regarded as the bull-bear boundary.

According to Golden Finance, the price of Bitcoin against gold (BTC/XAU) has dropped to around the level of 20 ounces of gold, marking the lowest since the beginning of 2024. At the same time, the weekly RSI indicator for this ratio has fallen to about 29.5 (oversold zone), close to a three-year low. Data shows that this RSI oversold area has historically often appeared near the bottoms of bear markets. Some analysts believe this may indicate that Bitcoin is undervalued and there is potential for a rebound in the future. However, there are also views that if this key support is lost, it may signal a weakening trend.

BTC0.13%
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
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 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)