A crypto analyst predicts an early signal from one indicator of a new round of bitcoin growth.

A crypto analyst for The Daily Hodl anticipates an early signal of a new round of bitcoin growth.

An experienced crypto analyst suggests that #bitcoin (BTC) could take a sharp turn to growth based on one important indicator. In a recent post, crypto trader Rekt Capital told its 542,500 X followers that the Relative Strength Index (RSI), which is a momentum indicator for identifying overbought or oversold areas, could soon break out of a downtrend, indicating a bullish bias for bitcoin. In the near term, watch for a possible breakout of the RSI downtrend. This trend has served as resistance on the RSI since November 2024. A breakout of this trend is likely to herald a change in trend and a rise in price. There is an oversold condition right now, with sellers gradually weakening. They are creating oversold conditions, which makes it easier for buyers to enter the market and buy assets, even without significant volumes. This puts pressure on the price, pushing it up, without much effort. This is what happens when sellers are exhausted. We have seen this type of oversold zone often in the current cycle. Each time we were at this point during the first collapse, we were either approaching or already at the bottom, and then the price reversed to the upside. The analyst also notes that bitcoin’s pullback from historical highs is not unusual, given the historical data. The current pullback (-29%) is one of the deepest in the cycle, but it’s nothing extraordinary. After all, we have already seen a deeper pullback immediately after calving (-32%). In fact, we’ve seen bigger pullbacks in previous cycles. the 2021 corrections: -31%, -55%, -25%. Read us at: Compass Investments