There's one simple way to tell whether bitcoin has really bottomed. Right now, it hasn't.

Bitcoin's weekly Relative Strength Index (RSI) has not yet cleared a critical level that has historically signaled a market bottom, according to analysis of the cryptocurrency's price cycles. This indicator, which measures the magnitude of recent price changes to evaluate overbought or oversold conditions, has consistently separated bull and bear market regimes across multiple Bitcoin cycles. Currently, the RSI remains below this key threshold, suggesting that Bitcoin has not definitively bottomed out. The RSI is a momentum oscillator that typically ranges from 0 to 100. Historically, when the weekly RSI has moved above this specific level, it has coincided with the commencement of a new bull market. Conversely, remaining below this level has indicated a prolonged bear market or a period of consolidation before a potential upward trend. Traders and analysts closely monitor this indicator as a potential signal for significant shifts in Bitcoin's market sentiment and direction. The absence of the RSI crossing this crucial line implies that the current market conditions may still be characterized by bearish sentiment or uncertainty, and a sustained recovery is not yet confirmed. Further upward movement in the RSI is required to signal a potential shift towards a bullish phase.