Bitcoin RSI aligns with the 2022 bear market bottom as analysts see a potential rebound

Bitcoin, the world’s largest cryptocurrency by market value, may be flashing a powerful signal of a potential turnaround as one analyst points to a striking similarity between its current RSI behavior and the pattern seen at the end of the 2022 bear market. The near-perfect match has sparked growing speculation that the market could be approaching another major bottom—sparking hopes that a bullish reversal may be around the corner. Bitcoin Stochastic RSI Signals 2023-Style Comeback In a recent post on X, widely-followed crypto analyst Quantum Ascend pointed to a striking pattern unfolding in Bitcoin’s stochastic RSI—one that appears to be mirroring past market moves. The stochastic RSI, often called “stoch RSI,” builds on the traditional RSI and is widely used by traders to spot overbought or oversold conditions, as well as potential changes in Bitcoin’s price momentum—making this signal hard to ignore. However, because it moves between these zones much faster, it often captures momentum shifts earlier—and, according to Quantum Ascend, the current setup hints at a powerful long-term bullish signal beginning to take shape. “RSI at the EXACT SAME point on the Daily as it was in 2022,” he wrote. He captioned a chart that highlights a striking setup, with the stochastic RSI forming a double bottom alongside price action before both rocketed in early 2023. At that time, the BTC/USD pair had just hit a multiyear low of around $15,500—a level that ultimately marked the bear market bottom. Now, according to Quantum Ascend, the same pattern is unfolding again, “nearly perfectly.” He noted that Bitcoin is breaking above the exact same key level, at nearly the exact same point in the cycle. The chart further shows the stochastic RSI attempting to push above its 50 midpoint after forming two local lows in late January and late March—fueling speculation that another major move could be on the horizon. The crypto market continues to move sideways within the same range it has held for the past two months, with Bitcoin trading at around $68,186 at the time of writing, per CoinGecko. Whether a similar scenario will play out this time, as Quantum Ascend predicts, remains to be seen. Much still hinges on the escalating US-Iran conflict, as President Donald Trump’s deadline for Tehran to reopen the strategically important Strait of Hormuz is set to expire Tuesday evening — a moment that markets and traders are watching closely amid the risk of further geopolitical fallout.