What does RSI at 34 mean for Bitcoin USD?

RSI at 34.21 indicates oversold conditions, suggesting selling pressure may be easing. Historically, oversold RSI often precedes bounces or reversals. However, oversold conditions can persist during strong downtrends, so confirmation from other indicators is important.

Why is Bitcoin USD down 23% this month?

The 23.29% monthly decline reflects broader market weakness, regulatory concerns, and macroeconomic headwinds. Bitcoin trading below its 200-day moving average at $99,630 signals a shift from bullish to bearish momentum across the cryptocurrency sector.

What is the quarterly forecast for BTCUSD?

The quarterly forecast for Bitcoin USD is $122,324.02, representing an 82.7% increase from current levels. This projection assumes a reversal from oversold conditions and recovery throughout Q2 2026, though market conditions could change this outlook.

Where is the first support level for Bitcoin USD?

The first major support level is at $56,799.73, defined by the Bollinger Band lower band. Below this, the year-low at $60,001 provides secondary support. Breaking these levels would signal further downside toward $50,000.

Is Bitcoin USD oversold right now?

Yes, multiple indicators confirm oversold conditions. RSI at 34.21 and Stochastic %K at 34.17 both sit below 30, indicating oversold territory. However, ADX at 49.32 shows the downtrend remains strong, so oversold conditions may persist before reversing.

Crypto Insights

Bitcoin USD Slides 23% Monthly—RSI at 34 Signals Oversold Conditions

ByDanny Kontos February 23, 2026February 23, 2026

Bitcoin USD (BTCUSD) is trading at $66,972.50 as of February 22, 2026, showing flat daily movement but significant monthly weakness. The cryptocurrency has declined 23.29% over the past month, though it remains above its year-low of $60,001. With a market cap of $1.35 trillion and trading volume of $33 billion, BTCUSD continues to dominate the crypto market. Technical indicators suggest the market may be reaching an inflection point, with oversold conditions emerging across multiple momentum metrics. Understanding the current technical setup and price forecast for BTCUSD is essential for tracking this major asset class.