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A recent analysis in the cryptocurrency market highlights that Bitcoin $83,314 is exhibiting oversold signals according to technical indicators. Rekt Capital emphasizes that the Relative Strength Index (RSI) on the daily chart has dropped to bear market levels, which historically has triggered rapid recoveries in price. Currently trading at around $82,207, Bitcoin’s potential for a double-bottom formation is also garnering attention. The analyst marks the critical support level between $78,000 and $71,700, underscoring the necessity for investors to closely monitor technical signals. The Relationship Between RSI and Past Price Movements According to data shared by Rekt Capital, Bitcoin’s RSI fell…

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