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 <p class="is-style-lead">CryptosRUs, a popular cryptocurrency YouTuber with over 666,000 subscribers, believes several technical and fundamental indicators suggest the <a rel="noopener noreferrer nofollow" title="bottom" href="https://thebittimes.com/tag/bottom.html">bottom</a> is near for Bitcoin.</p>
 <p>In a livestream video on Oct. 11, CryptosRUs analyzed the latest crypto market trends and pointed out signs that Bitcoin is oversold and due for a rally.</p>
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  <div class="wp-block-embed__wrapper"><iframe title="Bitcoin Signals HISTORIC Bottom with Key Indicator" width="1020" height="574" src="https://www.youtube.com/embed/z2beBcArvhc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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 <p>One of the key indicators CryptosRUs highlighted is the Relative Strength Index (RSI), a technical analysis tool that measures whether an asset is overbought or oversold. The RSI for Bitcoin recently hit low levels, indicating the cryptocurrency is oversold.</p>
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  <p>“This is one of the most basic indicators out there for charts. RSI measures whether or not Bitcoin is oversold or overbought. […] We’re oversold.”</p> <cite>CryptosRUs, YouTube analyst</cite>
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 <p>CryptosRUs pointed out that the RSI is signaling similar conditions now as during previous Bitcoin <a rel="noopener noreferrer nofollow" title="bottom" href="https://thebittimes.com/tag/bottom.html">bottom</a> formations.</p>
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 <p>In addition to RSI, CryptosRUs examined Bitcoin’s long-term support levels on logarithmic charts. He noted that despite a recent drop below the key support level around $20,000, Bitcoin has rebounded and is holding support.</p>
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  <p>“Every single time when Bitcoin is recovering from <a rel="noopener noreferrer nofollow" title="bottom" href="https://thebittimes.com/tag/bottom.html">bottom</a>, it tests and tests that support line. […] Every time it drops below it and then it goes up on a parabolic run. […] That’s where we are. Right. We drop slightly below that support line, but it looks very similar to all previous times.”</p> <cite>CryptosRUs, YouTube analyst</cite>
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 <p>Maintaining critical long-term support levels indicates ongoing strength in Bitcoin’s price structure. CryptosRUs believes this further confirms the cryptocurrency is close to finding a durable <a rel="noopener noreferrer nofollow" title="bottom" href="https://thebittimes.com/tag/bottom.html">bottom</a>.</p>
 <p>CryptosRUs also pointed to recent anti-Bitcoin comments made by CNBC’s Jim Cramer as a tongue-in-cheek indicator. He joked that Cramer has a track record of making overly bearish predictions right before major Bitcoin price increases.</p>
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  <p>This is also a <a rel="noopener noreferrer nofollow" title="historic" href="https://thebittimes.com/tag/historic.html">historic</a> key indicator. I don’t know about <a rel="noopener noreferrer nofollow" title="historic" href="https://thebittimes.com/tag/historic.html">historic</a>. I made that up. But, you know, Kramer is a is a key indicator.</p> <cite>CryptosRUs, YouTube analyst</cite>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-signals-historic-bottom-analyst-says-tbt66112.html">https://thebittimes.com/bitcoin-signals-historic-bottom-analyst-says-tbt66112.html</a></p>

Bitcoin signals historic bottom, analyst says

TheBitTimes

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