Bitcoin's 'RSI' screams oversold. Here is what it means

Bitcoin's relative strength index has fallen below 30, signaling oversold conditions as the cryptocurrency trades near a key $73,000 to $75,000 support zone. What to know : Bitcoin's relative strength index has fallen below 30, signaling oversold conditions as the cryptocurrency trades near a key $73,000 to $75,000 support zone. Oversold RSI readings often precede price bounces because many traders and algorithms treat them as buy signals, turning expectations into a self-fulfilling move. Any rebound from current levels may be limited, as RSI signals can be false and past oversold readings in broader downtrends have produced only modest rallies or brief consolidations.(Coindesk)