BTC forms bear market bottom signal with stochastic RSI at 4.81

An on-chain indicator historically marking BTC's bear market bottoms is forming. The two-month stochastic Relative Strength Index (RSI) is currently at 4.81, its lowest level in approximately three years, entering oversold territory last March. BTC has previously bottomed whenever this indicator dropped to zero after a bullish cross, a pattern seen in 2014, 2018, and 2022. Additionally, the standard daily RSI's drop to 15 in early June was noted as a historically rare event. The current price action, with a temporary dip below the low, resembles the bottom formation of 2015.

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