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.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fs3.tradingview.com%2Fsnapshots%2F6%2F6yhl0m63.png&t=665&c=2bASSDXsT3wFKQ)
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:
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fs3.tradingview.com%2Fsnapshots%2F0%2F0wsIEznJ.png&t=665&c=MDfJOguWFjeS-Q)