Since the current decline has been gradual, it didn't create a shock, but we are still in a historic week. The weekly RSI is in oversold territory for the third time; the first was in 2018 when BTC dropped to $3,200, the second during the famous COVID crash when it fell to $15,000, and the third is today. Currently, it's at 63, but it's not over yet; we're probably heading to see the 58,000 200-week moving average. There's not much more to say; after previous resets, overselling and changing capital, we returned stronger in new stories. Let's see if history will repeat itself.
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Since the current decline has been gradual, it didn't create a shock, but we are still in a historic week. The weekly RSI is in oversold territory for the third time; the first was in 2018 when BTC dropped to $3,200, the second during the famous COVID crash when it fell to $15,000, and the third is today. Currently, it's at 63, but it's not over yet; we're probably heading to see the 58,000 200-week moving average. There's not much more to say; after previous resets, overselling and changing capital, we returned stronger in new stories. Let's see if history will repeat itself.