{"id":140951,"date":"2023-09-01T22:38:48","date_gmt":"2023-09-01T17:08:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=140951"},"modified":"2023-09-01T22:38:48","modified_gmt":"2023-09-01T17:08:48","slug":"has-bitcoin-btc-bottomed-out-in-oversold-territory-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/has-bitcoin-btc-bottomed-out-in-oversold-territory-crypto-news\/","title":{"rendered":"Has Bitcoin [BTC] bottomed out in oversold territory? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>Bearish momentum waned as BTC compressed into a tight range.<\/em><\/li>\n<li><em>Rising mean coin age suggested active buyers were looking to buy BTC at lower prices in anticipation of a price rebound.<\/em><\/li>\n<\/ul>\n<p>Investors continued to approach <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\">Bitcoin [BTC]<\/a> with cautious sentiment, as the market slowly recovers from the panic wave over the past week. BTC\u2019s sharp drop from $28.5k to $25.2k on 17 August sparked fear across the crypto market.<\/p>\n<hr \/>\n<p style=\"text-align: center\">How much are\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-btc-to-usd\" data-wpel-link=\"internal\">1,10,100 BTCs worth today<\/a>?<\/p>\n<hr \/>\n<p>Nonetheless, the king of cryptos\u2019 sideways price action hinted at price bottoming out. Along with increasingly positive signs from chart indicators, traders could witness a price rebound in the near term.<\/p>\n<h4><strong>Are bears exhausted?<\/strong><\/h4>\n<div id=\"attachment_337722\" style=\"width: 1979px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSDT_2023-08-22_14-01-24.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-337722\" class=\"size-full wp-image-337722\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/BTCUSDT_2023-08-22_14-01-24.png\" alt=\"Bitcoin BTC price chart on dark background\" width=\"1969\" height=\"1054\" \/><\/a><\/p>\n<p id=\"caption-attachment-337722\" class=\"wp-caption-text\">Source: BTC\/USDT on Trading View<\/p>\n<\/div>\n<p>Sellers appeared to have lost steam as the selling pressure waned after BTC broke below the $26.5k support level. A mixture of bullish and bearish candles on the 12-hour timeframe raised the notion of a bullish comeback for Bitcoin.<\/p>\n<p>A look at the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) suggested that a price rebound could happen soon. Although the RSI remained in the oversold zone, it pushed up from 9 to 19 to hint at recovery efforts by the bulls.<\/p>\n<p>Therefore, a climb out of the oversold zone could significantly accelerate BTC\u2019s rebound. Likewise, the CMF moved from -0.21 to -0.11 signaling a slow recovery of capital inflows.<\/p>\n<p>If bulls are able to take back the $29.5k level along with the positive indicators, buyers can make a push for $27k to $27.5k. On the flip side, sellers could be waiting in the wings for one more significant shorting opportunity to the $25.3k support before any substantial price reversal.<\/p>\n<h4><strong>The rising mean coin age suggested buyers were active<\/strong><\/h4>\n<div id=\"attachment_337724\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-337724\" class=\"size-full wp-image-337724\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"2560\" height=\"867\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023-2048x693.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-337724\" class=\"size-full wp-image-337724\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bitcoin-BTC-14.16.08-22-Aug-2023.png\" alt=\"\" width=\"2560\" height=\"867\" \/><\/a><\/p>\n<p id=\"caption-attachment-337724\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<p>Data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.santiment.net\/s\/Uc3ih9OP\" data-wpel-link=\"external\">Santiment<\/a> showed that the 90d mean coin age has been on an uptrend since 18 August. This hinted at an accumulation of BTC at low prices with the intention of mounting a sustained bullish rally.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\">Bitcoin\u2019s [BTC] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p>With the Market Value to Realized Value (MVRV) standing at -8.58%, it meant long-term holders were still holding onto unrealized losses.<\/p>\n<p>Together with the rising mean coin age, long-term holders could be buying at lower prices with the goal of making a marginal profit in the event of a price rebound.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. Bearish momentum waned as BTC compressed into a tight range. Rising mean coin age suggested active buyers were looking to buy BTC at lower prices in anticipation of a price rebound. Investors continued to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":140952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-140951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=140951"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140951\/revisions"}],"predecessor-version":[{"id":147152,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/140951\/revisions\/147152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/140952"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=140951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=140951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=140951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}