Crypto analyst Quinten recently revealed that Bitcoin has entered oversold levels. However, analyst Dr. Cat has warned that, contrary to public opinion, this development is bearish, not bullish, for the flagship crypto.
In an X post, Dr. Cat stated that Bitcoin entering oversold levels is “super-bearish” and overbought levels are “super-bullish.” He explained that for the oscillator to reach oversold values, it means that the price action has been extremely bearish, indicating why investors are selling their holdings.
Why Bitcoin Entering Oversold Levels Is Bearish The crypto analyst further remarked that Oscillators are range-bound indicators, so they can’t go beyond 0 and 100, as they are limited by their mathematical formulas. However, he added that the Bitcoin price can go lower or higher. Dr. Cat
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