Matrixport: Bitcoin Price Shows Technical Divergence with RSI, Suggests Waiting for Optimal Entry Point

BlockBeats News, February 5th, Matrixport released today's chart stating that a clear technical divergence has appeared between the Bitcoin price and the Relative Strength Index (RSI). Despite Bitcoin's price being above $100,000, the RSI has been consolidating, indicating a weakening momentum of the potential trend.

Looking back at the correction and consolidation phase before 2024, historically, a strong buying opportunity only emerged when the RSI dropped to around 40%. Currently, although the RSI is approaching that level (48%), it has not yet reached it, so entering new long positions may be premature. A more strategic approach would be to exercise patience and wait for the optimal entry point.