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Bitcoin's RSI hits highest level in nearly 2 years after $3B short squeeze, prices near $80K.

Technical Signals
22 Aug 2026
Crypto Briefing
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Bullish
pluang ai news

Bitcoin's Relative Strength Index (RSI) surged above 80, reaching levels not seen since November 2024, driven by a massive short squeeze that liquidated over $3 billion in short positions within 24 hours. This forced buying pushed Bitcoin's price from a consolidation range of $62K-$71K to nearly $80K before settling around $77K. Despite the rapid price spike, historical trends suggest that such overbought conditions during strong bullish phases often lead to further gains rather than immediate reversals. Investors should watch if Bitcoin can maintain the $77K level or fall back toward $71K.

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