The worth of Bitcoin has been underneath intense bearish strain over the previous week, falling under the $110,000 mark on Thursday, September 25. Whereas the premier cryptocurrency has managed to cease bleeding up to now day, the BTC worth has struggled to reclaim the psychological $110,000 stage. Curiously, the most recent readings of a technical evaluation indicator counsel that the Bitcoin worth might need simply reached a backside and could possibly be prepared for a rebound.
Has The Bitcoin Value Reached A Backside?
In a September 26 put up on the X platform, a crypto analyst named after the famend economist Frank Fetter revealed that the worth of Bitcoin might need simply entered a purchase zone. This worth projection relies on the relative energy index (RSI) indicator on the day by day BTC worth chart.
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The relative energy index is a momentum indicator utilized in technical worth evaluation to evaluate the magnitude and velocity at which an asset’s worth adjustments. The RSI oscillator is normally used to research whether or not a crypto asset (Bitcoin, on this case) is being overbought or oversold, suggesting a attainable worth or pattern reversal.
When the relative energy index breaks above 70, it usually signifies an overbought market situation, with the asset’s worth more likely to face promoting strain. In the meantime, an RSI worth under 30 implies that the market is in an oversold situation, with worth on the verge of a possible rebound.
Based on Fetter, the Bitcoin relative energy index on the day by day chart has fallen to its lowest stage for the reason that April worth backside of $74,000. This worth downturn, which was triggered by the tariff struggle between the US and China, noticed the RSI oscillator fall beneath the 30 threshold in March.
Since bottoming out on the $74,000 mark and the RSI low in April, the Bitcoin worth has since gone on to set a number of all-time highs. If historical past is something to go by, there’s a likelihood that the flagship cryptocurrency may discover help at its present worth and run as much as a brand new excessive.
As of this writing, BTC is valued at round $109,331, reflecting a mere 0.2% soar up to now 24 hours. Based on information from CoinGecko, the premier cryptocurrency is down by greater than 5% on the weekly timeframe.
Crypto Market Enters ‘Concern’ Zone
The crypto Concern & Greed Index is one other sign suggesting a purchase alternative within the Bitcoin market in the meanwhile. Based on the most recent on-chain information from Alphractal, this metric has dropped to twenty-eight, signaling sturdy concern amongst digital asset buyers.
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In the meantime, the Concern & Greed Index of the inventory market is at a impartial stage, that means that pessimism has but to hit the normal markets. With the crypto Concern & Greed Index at its lowest stage since April 2025, the divergence from the normal markets suggests potential accumulation alternatives within the digital asset market.
Featured picture from iStock, chart from TradingView
