Bitcoin Holds Near $63,000 as Weekly RSI Stays at 34, Below 41.5 Bottom Signal
Updated
Updated · CoinDesk · Jun 12
Bitcoin Holds Near $63,000 as Weekly RSI Stays at 34, Below 41.5 Bottom Signal
2 articles · Updated · CoinDesk · Jun 12
Summary
$63,000 bitcoin is still missing a confirmed bottom signal because its weekly RSI sits at 34.00, well below the 41.5 level Material Indicators says marks a bullish macro turn.
The gauge has historically separated bull and bear regimes: BTC held above 41.5 through the 2024-25, 2020-21 and 2015-17 bull runs, while deeper bear phases in 2018, 2022 and recent months stayed below it.
A bounce to $64,000 from sub-$60,000 lows therefore looks more like a relief rally than a fresh uptrend, with analyst Keith Alan saying the burden of proof remains on bulls.
31.89 is the next key RSI level to watch; a drop below that prior weekly reading would point to further price losses, while a move back above 41.5 would be the first meaningful bottom confirmation.