In the case of Bitwise 10 Crypto Index, the RSI reading has hit 29.4 — by comparison, the RSI reading for the S&P 500 is currently 44.6. A bullish investor could look at BITW's 29.4 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), BITW's low point in its 52 week range is $37.20 per share, with $66.48 as the 52 week high point — that compares with a last trade of $37.63. Bitwise 10 Crypto Index shares are currently trading off about 1.3% on the day.
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Further BITW Research:
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