Bitcoin weekly RSI hits bull market low as trader sees $70K BTC price bottom

Bitcoin’s weekly RSI, while not yet “oversold,” is now at its lowest level since the start of 2023 — Will a drop to $70,000 mark the BTC price bottom?

Bitcoin (BTC) has a new $70,000 reversal target as a leading indicator sets new bull market lows.

In X analysis on April 7, popular trader and analyst Rekt Capital predicted that BTC/USD could find its floor near old all-time highs from 2021.

Bitcoin can dip as low as $70,000 before recovering and still keep within historical norms, Rekt Capital says.

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