Bitcoin Rally More Overbought Than October Pump Above $10K, Data Shows

Bitcoin price has exploded out of its recent trading range near lows around $6,500 and has already rallied over $8,300 in a move that caught bearish crypto traders who were expecting more downside in the leading cryptocurrency by market cap off-guard.
However, before bulls should start celebrating that the downtrend is over, there’s an extremely bearish case to consider: Bitcoin is now more oversold than it was during its historic October 2019 rally, which was driven by news that China wou