Matrixport: There is a technical deviation between Bitcoin price and RSI, suggesting waiting for the best entry point "
Network reports that on February 5, Matrixport released today's chart saying that there was a clear technical deviation between the Bitcoin price and the Relative Strength Index (RSI). Although the price of Bitcoin has remained above $100,000, the RSI has been consolidating, indicating that the momentum of the underlying trend is weakening. Looking back at the correction and consolidation period before 2024, historically, strong buying opportunities have only emerged when the RSI has dropped to about 40%. Currently, although the RSI is close to this level (48%), it has not yet been reached, so it may be too early to enter new long positions. A more strategic approach is to be patient and wait for the best entry point.
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