The Daily RSI has now left bearish conditions (<40) and current remains neutral around 50, the highest level in around a month, after confirming higher highs and higher lows on July 4th.
Notably the price strength is similar to that of end of May / start of June around $30K level, so there is likely to be either rejection from this level and bear market continuation, or otherwise a break to the upside in order to re-test oversold conditions, not seen since March. Now more relevant however is the Weekly RSI that is currently attempting to leave oversold conditions this week, hence new thread:
As price today retests $22.5K, $500 short of the 200WMA, the Weekly RSI is now attempting to leave oversold conditions, for the first time since 2018:
Poll
