Bitcoin's RSI is Flirting With a Higher Low, and Hodlers Are Getting Impatient

Bitcoin's relative strength index (RSI) is once again tiptoeing toward a crucial long-term juncture, like a degen cautiously approaching a new memecoin launch. Analysts are glued to their screens, waiting to see if it can actually form a higher low—a necessary condition if BTC's price wants to continue its upward crawl instead of just another fakeout.

Trader Jelle pointed out that when Bitcoin's weekly RSI finally manages to print a higher low, it's officially 'time to pay attention,' which in crypto terms means you should probably stop doomscrolling and actually look at your charts. A classic bullish divergence, the holy grail for chartists, is when the RSI makes a higher low while the price itself is still making lower lows, a bit like the asset is feeling better on the inside even if its portfolio value looks rough.

Jelle further clarified that the price itself still has options: it can make a higher low, an equal low, or even a lower low. The real signal to watch for is when the RSI itself starts climbing again, suggesting the bottom is either very close or already in the rearview mirror—hopefully before your last leveraged long gets liquidated.

The RSI last pulled this bullish flip trick at the tail end of the 2022 crypto winter, a signal that preceded over a year of upside. Back then, the market was also obsessively watching Bitcoin reclaim the 200-week exponential moving average as support, a feat it finally managed in March 2023, much to everyone's relief.

That coveted 200-week EMA, however, was unceremoniously lost again last month, with some analysis now calling the trend line 'unreliable,' which is a polite way of saying it's about as trustworthy as an anonymous Twitter account promising a 100x.

Jelle is among the chorus noting that previous proper bear markets tended to last around a year. Given that Bitcoin peaked just 23 weeks ago, he dryly stated, 'I'm not in a rush to buy back in,' a sentiment shared by anyone who has been rugged more than once.

Meanwhile, separate charts are highlighting a possible bear flag formation brewing, a classic chart pattern that signals weakness and could lead to another failure of support. It's a grim reminder of what happened back in January, because in crypto, history doesn't just rhyme, it often repeats the same painful liquidation event.