Matrixport: There is a clear technical divergence between Bitcoin price and RSI, indicating that its momentum is weakening
2025-02-05 06:34:05
Odaily News Matrixport released a chart today saying that there is a clear technical divergence between the Bitcoin price and the relative strength index (RSI). Although the price of Bitcoin has remained above $100,000, the RSI has been in a consolidation state, indicating that the momentum of the underlying trend is weakening.
Looking back at the correction and consolidation phases before 2024, historically strong buying opportunities only occurred when the RSI dropped to approximately 40%. Currently, the RSI is close to that level (48%) but has not yet reached it, so it may be too early to enter new long positions. A more strategic approach is to remain patient and wait for the best entry point.
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