Bitcoin RSI Drops Below 30 for Third Time: Is a Long-Term Consolidation Phase Coming?

RSI Sends Key Market Signal

Blockchain analytics show Bitcoin's 14-day Relative Strength Index (RSI) has dropped below 30 for the third time this month. This technical indicator suggests significant market oversold conditions when it falls below this threshold.

Historical Patterns Repeat

Similar RSI readings in 2015 and 2018 preceded extended consolidation phases lasting several months. The market required substantial time to build momentum before achieving breakout moves.

Current Market Dynamics

The present RSI pattern closely mirrors previous cycles, indicating potential for prolonged sideways movement. Investors should monitor key support levels and volume patterns in preparation for subsequent market developments.