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<p><strong>According to crypto analytics platform Santiment, Bitcoin’s RSI (Relative Strength Index) recently surged to 76 after the price hit $42,000 earlier today. </strong></p>
<p>The RSI is a popular technical indicator that measures the momentum and speed of price changes in an asset to determine if it is overbought or oversold.</p>
<p>An RSI reading above 70 is generally considered to mean an asset is overbought and may be due for a pullback, while a reading below 30 indicates an oversold condition.</p>
<p>At 76, Bitcoin’s current RSI signals that its rally may have been overextended in the short-term and a brief cooldown period seems likely.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="665" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-1024x665.png" alt="" class="wp-image-391384" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-1024x665.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-300x195.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-767x498.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-1536x998.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-2048x1331.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-231x150.png 231w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-100x65.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-539x350.png 539w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-95-788x511.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Santiment <a href="https://x.com/santimentfeed/status/1731762754980356289?s=20" target="_blank" rel="noopener noreferrer nofollow">believes</a> that if Bitcoin’s RSI can moderate and remain below 65 in the coming days, further upside towards the key $50,000 level is achievable. The $50K barrier remains an important psychological hurdle for Bitcoin to reclaim.</p>
<p>A more measured and sustainable price ascent would give BTC a better chance of overcoming resistance around that level.</p>
<p>Read also:</p>
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<p>Bitcoin powered to fresh 2023 highs today but is demonstrating signs of short-term exhaustion. With smart consolidation of recent gains and preventing excessive greed, the path looks clear for Bitcoin to continue its recovery toward the $50K mark. Crypto traders will be closely monitoring Bitcoin’s RSI for clues about the durability of the rally.</p>
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<p>The post <a href="https://captainaltcoin.com/this-bitcoin-indicator-points-to-btc-cooling-off/" rel="noopener noreferrer nofollow">This Bitcoin Indicator Points To BTC Cooling Off</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

This Bitcoin Indicator Points To BTC Cooling Off

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