The post Bitcoin indicator signals now’s the perfect time to ‘buy the dip’ appeared on BitcoinEthereumNews.com.

Considering that trends in the cryptocurrency market often change, it can sometimes be difficult to gauge the right timing for buying assets like Bitcoin (BTC). However, there is one indicator that can help make this task easier, as observed by a renowned crypto trading expert. Specifically, popular crypto market analyst Ali Martinez pointed out that the relative strength index (RSI), using 14 periods, had always signaled the perfect time to buy the Bitcoin dip, as it does at the moment, according to the analysis he shared in an X post on June 25. ‘Buy the dip’ now Indeed, as Martinez’s chart suggests, the RSI indicator, which measures the speed and change of price movements to assess overvalued or undervalued conditions, has been a solid predictor of the future price performance for the maiden crypto asset and when to ‘buy the dip’ (when the RSI is below 30). Bitcoin RSI indicator chart analysis. Source: Ali Martinez As per the above chart, a reading of 30 or below points to an undervalued situation and is the ideal time to buy the Bitcoin dip before it sets off on its upward course, or as Raoul Pal dubbed it (and Robert Kiyosaki agreed with), lifts off into the ‘Banana Zone.’ BTC Fear and Greed index concurs Previously, Martinez also highlighted that the BTC Fear and Greed index had turned into fear on June 25, advising his followers to “be greedy when others are fearful,” in other words, suggesting that they buy the flagship decentralized finance (DeFi) asset at a time when others are avoiding it. BTC Fear and Greed Index. Source: Ali Martinez In particular, the BTC Fear and Greed index has dropped to 30 points, which suggests ‘fear’ from the earlier ‘neutral’ sentiment on June 24 and ‘greed’ on June 23, although it…

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Filed under: News - @ June 26, 2024 10:18 am