According to Cryptofrontnews, Bitcoin is approaching an oversold zone as analysts identify key technical signals that historically preceded major rallies. The weekly RSI is near 30, matching levels from 2020 and 2022 that triggered gains of 1,228% and 341%, respectively. BTC currently trades 13.3% below its 200-day moving average at $104.8K, with 24-hour volume surging 34% to $37.5B. Only 4-6 million BTC are available for trading, while 12-13 million are held long-term, indicating price sensitivity to institutional demand.
Bitcoin Near Oversold Zone, Analysts Track Key Recovery Signals
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