Keep an eye on Bitcoin mining stocks, like Riot Platforms (RIOT).
While it’s a risky idea on Bitcoin’s pullback, we have to consider that the recent BTC drop is overdone at this point. In fact, after dropping from about $70,000 to a current price of $55,361, it’s severely oversold on RSI, MACD and Williams’ %R.
Even crypto analyst Ali Martinez note that “BTC’s daily RSI has hit the oversold territory three times in the past two years. In each of the three instances, BTC’s price has surged by 60%, 63%, and 198% respectively,” as reported by Watcher.guru.