Why bitcoin’s rare oversold RSI crash signals a long, slow grind ahead

History suggests the current move could lead to consolidation around the $60,000 region in the months ahead before the next leg upward. What to know : Bitcoin’s 14-day Relative Strength Index (RSI) dropped below 30 for only the third time in its history this month, according to checkonchain, The RSI is a momentum oscillator that measures the speed and magnitude of recent price movements by comparing average gains and losses over a set period of 14 days. In both 2015 and 2018, similar RSI readings were followed by multi-month consolidation phases before a sustained breakout.