Question #525 ·
What does the current Relative Strength Index reading of around 62 tell us about Bitcoin's momentum?
- RSI at 62 means Bitcoin is currently extremely oversold
- An RSI of 62 suggests bullish momentum but not overbought Right answer
- An RSI around 62 indicates neutral momentum without direction
- The RSI value of 62 shows reversal to bearish trend
Why is this the correct answer?
This is correct because the Relative Strength Index measures momentum on a scale from 0 to 100. An RSI reading of 62 indicates that buying pressure is stronger than selling pressure, pointing to bullish momentum. Since it is below the overbought threshold of 70, it means the market still has room to run higher before a potential pullback.