On-chain analyst: The current Bitcoin RSI is once again in the oversold zone

ChainCatcher news, according to on-chain analyst Ali, in the past two years, the Bitcoin daily Relative Strength Index (RSI) has touched the oversold area three times, resulting in BTC prices soaring by 60%, 63%, and 198% respectively. Bitcoin is now below $62,000, and the RSI is once again in the oversold area.

It is reported that the Relative Strength Index (RSI) is a common technical analysis indicator used to estimate short-term market trends and assess whether an asset is overvalued or undervalued.