{"id":644584,"date":"2024-09-25T20:30:55","date_gmt":"2024-09-25T20:30:55","guid":{"rendered":"https:\/\/ktsl888.com\/?p=644584"},"modified":"2024-09-25T14:20:00","modified_gmt":"2024-09-25T14:20:00","slug":"bitcoin-below-65000-rsi-falls-should-you-worry","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-below-65000-rsi-falls-should-you-worry\/","title":{"rendered":"Bitcoin Capped Below $65,000 As RSI Falls Below 80 In Monthly Chart: Should You Worry?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Bitcoin is firm at press time. According to CoinMarketCap data, the world&#8217;s most valuable coin is changing hands above $63,500, steady on the last day and up a decent 7% over the previous week of trading. Technically, the uptrend remains as long as prices stay above the support zone at around $58,000 and $60,000.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Bitcoin Up 30% From August Lows, RSI Dips Below 80% Level In The Monthly Chart<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">At press time, traders are upbeat and optimistic, which could form the base of another leg up. So far, since the dip in early August, Bitcoin is up 30% and retesting August highs at around $65,000. However, there are high expectations that buyers will push prices above this level, marking another phase for confident bulls, a development in the monthly chart is worth noting.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-top-400000-based-this-model-analyst-says\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Could Top At $400,000 Based On This Model, Analyst Says<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Taking to X, the analyst <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/AxelAdlerJr\/status\/54299175\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">notes<\/span><\/a><span data-preserver-spaces=\"true\"> that as bulls struggle to break above $65,000 and print a fresh 2-month high, the upside momentum seems to be fading. At press time, the Relative Strength Index (RSI) in the monthly chart is falling, recently breaking below the 80%.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-644585\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYT13H_XAAAtfbq.jpeg?resize=1024%2C576\" alt=\"Bitcoin RSI falling in the monthly chart | Source: @AxelAdlerJr via X\" width=\"1024\" height=\"576\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYT13H_XAAAtfbq.jpeg?w=2048 2048w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYT13H_XAAAtfbq.jpeg?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYT13H_XAAAtfbq.jpeg?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYT13H_XAAAtfbq.jpeg?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYT13H_XAAAtfbq.jpeg?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYT13H_XAAAtfbq.jpeg?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYT13H_XAAAtfbq.jpeg?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p><span data-preserver-spaces=\"true\">Typically, the zone between 80% and 100% marks the upper limit of the oscillator, denoting that the coin is overvalued or in the overbought territory. With the RSI falling, it can be interpreted that the upside momentum is down, which is a net negative for bulls.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"> Since this is printed out in the monthly chart, it could have serious consequences in the daily and lower time frames. It can hint that cracks are forming, and sellers may be preparing to push lower, especially if bulls fail to break above $65,000.<\/span><\/p>\n<figure style=\"width: 1273px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.tradingview.com\/x\/8k7CPoE0\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/8k7CPoE0\/\" alt=\"Bitcoin price moving sideways on the monthly chart | Source: BTCUSDT on Binance, TradingView\" width=\"1273\" height=\"588\"><\/a><figcaption class=\"wp-caption-text\">Bitcoin price moving sideways on the monthly chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/8k7CPoE0\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<h2><span data-preserver-spaces=\"true\">There Is Hope, BTC Will Likely Spike Once Prices Race Above $73,000<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Bearish as this may be, there is hope. The analyst observes that though the RSI is below the 80% mark, this is not the first time. On multiple occasions, Bitcoin prices recover steadily when the RSI falls to this level. Nonetheless, this doesn&#8217;t happen all the time. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As this is a concern, traders should closely monitor how price action pans out in the coming days. A drop toward the $60,000 mark will pour cold water into the current momentum, signaling the start of a possible correction.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/cardano-ada-reclaims-top-10-crypto-spot-analysts-set-new-targets\/\" target=\"_blank\" rel=\"noopener \">Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Even with this outlook, the analyst is bullish. In a separate post, the analyst said if Bitcoin shakes off weakness and climbs towards $73,000, the coin may rally strongly. When this happens, the analyst <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/AxelAdlerJr\/status\/68799277\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">expects<\/span><\/a><span data-preserver-spaces=\"true\"> a new influx of fresh liquidity, especially in the futures market. <\/span><\/p>\n<figure id=\"attachment_644586\" aria-describedby=\"caption-attachment-644586\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-644586\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYTu8WVW0AAJM6V.jpeg?resize=1024%2C576\" alt=\"BTC may surge after $73,000 | Source: @AxelAdlerJr via X\" width=\"1024\" height=\"576\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYTu8WVW0AAJM6V.jpeg?w=2048 2048w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYTu8WVW0AAJM6V.jpeg?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYTu8WVW0AAJM6V.jpeg?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYTu8WVW0AAJM6V.jpeg?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYTu8WVW0AAJM6V.jpeg?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYTu8WVW0AAJM6V.jpeg?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/GYTu8WVW0AAJM6V.jpeg?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-644586\" class=\"wp-caption-text\">BTC may surge after $73,000 | Source: @AxelAdlerJr via X<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">The inflow, in turn, could drive prices to new levels, perhaps even above all-time highs. All the same, before this happens, BTC <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-held-for-years-are-now-on-the-move-is-this-a-signal-for-caution\/\" target=\"_blank\" rel=\"noopener \">needs<\/a> to gather momentum. This surge will happen, especially if there is a decisive close above the $65,000 resistance line. <\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from DALLE, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is firm at press time. According to CoinMarketCap data, the world&#8217;s most valuable coin is changing hands above $63,500, steady on the last day and up a decent 7% over the previous week of trading. Technically, the uptrend remains as long as prices stay above the support zone at around $58,000 and $60,000. Bitcoin Up 30% From August Lows, RSI Dips Below 80% Level In The Monthly Chart At press time, traders are upbeat and optimistic, which could form the base of another leg up. So far, since the dip in early August, Bitcoin is up 30% and retesting August highs at around $65,000. However, there are high expectations that buyers will push prices above this level, marking another phase for confident bulls, a development in the monthly chart is worth noting. Related Reading: Bitcoin Could Top At $400,000 Based On This Model, Analyst Says Taking to X, the analyst notes that as bulls struggle to break above $65,000 and print a fresh 2-month high, the upside momentum seems to be fading. At press time, the Relative Strength Index (RSI) in the monthly chart is falling, recently breaking below the 80%. Typically, the zone between 80% and 100% marks the upper limit of the oscillator, denoting that the coin is overvalued or in the overbought territory. With the RSI falling, it can be interpreted that the upside momentum is down, which is a net negative for bulls. Since this is printed out in the monthly chart, it could have serious consequences in the daily and lower time frames. It can hint that cracks are forming, and sellers may be preparing to push lower, especially if bulls fail to break above $65,000. There Is Hope, BTC Will Likely Spike Once Prices Race Above $73,000 Bearish as this may be, there is hope. The analyst observes that though the RSI is below the 80% mark, this is not the first time. On multiple occasions, Bitcoin prices recover steadily when the RSI falls to this level. Nonetheless, this doesn&#8217;t happen all the time. As this is a concern, traders should closely monitor how price action pans out in the coming days. A drop toward the $60,000 mark will pour cold water into the current momentum, signaling the start of a possible correction. Related Reading: Cardano (ADA) Reclaims Top 10 Crypto Spot, Analysts Set New Targets Even with this outlook, the analyst is bullish. In a separate post, the analyst said if Bitcoin shakes off weakness and climbs towards $73,000, the coin may rally strongly. When this happens, the analyst expects a new influx of fresh liquidity, especially in the futures market. The inflow, in turn, could drive prices to new levels, perhaps even above all-time highs. All the same, before this happens, BTC needs to gather momentum. This surge will happen, especially if there is a decisive close above the $65,000 resistance line. Feature image from DALLE, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":643254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,679,92634,768,1119,78790],"class_list":["post-644584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-rsi","tag-bitcoin-trading","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Bitcoin Capped Below $65,000 As RSI Falls Below 80 In Monthly Chart: Should You Worry?<\/title>\n<meta name=\"description\" content=\"Bitcoin is steady at spot rates but struggling to break $65,000. 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Short-Term Holders' Buy Price Holds the Key\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-below-65000-rsi-falls-should-you-worry\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ktsl888.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Capped Below $65,000 As RSI Falls Below 80 In Monthly Chart: Should You Worry?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ktsl888.com\/#website\",\"url\":\"https:\/\/ktsl888.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ktsl888.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ktsl888.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/ktsl888.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\",\"name\":\"Dalmas Ngetich\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/73f4ad24aaf1d2abe0885846b798381a?s=96&d=mm&r=g\",\"caption\":\"Dalmas Ngetich\"},\"description\":\"Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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