Bitcoin's weekly Relative Strength Index (RSI) has reached historic lows, sparking speculation about its future price action. According to crypto analysts, this momentum indicator has repeatedly appeared during late-stage capitulation phases, making it a critical signal that the market could be nearing another major turning point.
The 200-week Exponential Moving Average (EMA) and the volume Point of Control (POC) are currently being tested as support levels. If the price can reclaim these areas before the close, it may trigger a sharp upside reaction and signal that the breakdown attempt is losing strength.