BTC showing signs of slowing downward momentum, analyst says

A bullish divergence has appeared on Bitcoin's weekly Relative Strength Index (RSI), according to an analysis by Jamie Coutts, a crypto market analyst at Real Vision. He explained that while BTC retested its February low last week, the RSI remained at a higher level than before. Coutts noted this is the opposite of a bearish divergence seen last September and suggests that selling momentum is slowing. He added that the trend remains bearish across all timeframes and further declines are possible, but noted that similar patterns also appeared in 2015, 2019, and 2022. Coutts predicted that while the bear market may not be over, long-term investors are likely to start accumulating at current levels, while short-term investors will probably wait for a confirmed trend reversal before entering.