Bitcoin RSI nears three-year lows vs. gold as analyst sees bullish comeback
Bitcoin's value against gold is near multi-year lows, signaling a potential bottom and bullish reversal according to analysts.Summary
Bitcoin's ratio against gold (BTC/XAU) has dropped to around 20 ounces, levels not seen since early 2024, placing it at a critical support level that historically marks the border between bull and bear markets. Analyst Michaël van de Poppe suggests this indicates gold is overvalued while Bitcoin is undervalued, predicting "more upside on the horizon" for BTC. This view is supported by the weekly Relative Strength Index (RSI) on the BTC/XAU pair nearing 29.5, a level below 30 that has historically signaled long-term bottoms during bear cycles, alongside a developing bullish divergence on the daily RSI. However, other analysts caution that losing this 20-ounce support level preceded the last Bitcoin bear market, suggesting consolidation or a break downwards could occur within weeks.
(Source：Cointelegraph)