December 13, 2023 6:50 PM
-
newsletter@mail.coinbase.com
Is BTC still in an uptrend?
The email discusses the recent decline in Bitcoin's price, explains the concept of 'relative strength index', provides updates on various cryptocurrencies, and shares some crypto-related news and statistics.
Bitcoin’s recent pullback could be a temporary blip. View in browser 12/14/23 Will bulls or bears prevail after BTC’s mild decline during crypto’s year-end rally? [Westend61 via Getty Images] What’s up? It’s Coinbase Bytes There’s never a dul
December 13, 2023 6:50 PM
-
newsletter@mail.coinbase.com
Is BTC still in an uptrend?
The email discusses the recent decline in Bitcoin's price, explains the concept of 'relative strength index', provides updates on various cryptocurrencies, and shares some crypto-related news and statistics.
Bitcoin’s recent pullback could be a temporary blip. View in browser 12/14/23 Will bulls or bears prevail after BTC’s mild decline during crypto’s year-end rally? [Westend61 via Getty Images] What’s up? It’s Coinbase Bytes There’s never a dul
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</style></head><body style="margin:0; padding:0; background-color:#FFFFFF; font-family:Helvetica Neue,Helvetica,Arial,sans-serif; font-size:16px; color:#0A0B0D"><span style="color:transparent; visibility:hidden; display:none; opacity:0; height:0; width:0; font-size:0">Bitcoin’s recent pullback could be a temporary blip.</span><img src="https://links.coinbase.com/e/eo?_t=3aca56371967418192255878e9689713&_m=a8dd08d3c9c748fe8c4166d539f4fd0c&_e=m7Ndz741eNOFAZNEZVyasQyaaRnmDDnrIiROiHHxmGNC2pIDDIBHJEJ8Cz1kkQpVpa4s8KuTbq2bYJ3-ss6z6R0F7AS4G5xsLg91GtLEEBp7iC_8fn1xgQQD9lCBsIdcf4itZcqaFkhK25unzGEwEF7lqBJ6eETjwZ3RVRw8D-Q%3D" width="1" height="1" style="border:0; width:1px; height:1px; border-width:0px!important; display:none!important; line-height:0!important"><div id="root" style="min-width:320px; background-color:#FFFFFF; width:100%"><div class="block-grid" style="min-width:320px; max-width:570px; word-break:break-word; margin:0px auto"><div style="padding:0px 10px 10px"><div style="text-align:right; margin-bottom:24px"><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(91,97,110); text-decoration:none; line-height:1.5; font-size:12px">View in browser</a></div><div style="margin-bottom:20px"><table style="width:100%"><tbody><tr><td style="text-align:left; vertical-align:middle"><a href="#" title="Coinbase Bytes" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/cbytes-4x.png" height="36" style="display:block; height:36px"></a></td><td style="text-align:right"><p style="font-size:20px; color:rgb(10,11,1); margin:10px 0px 0px">12/14/23</p></td></tr></tbody></table></div><a href="#" target="_blank" rel="noopener noreferrer"><img src="https://images.ctfassets.net/q5ulk4bp65r7/4WDHPpgBi8sT9lJVm58jj6/45f883e921d234b9cf2def588b723d92/image2.jpg" width="100%" style="display:block; width:100%"></a><p style="margin:16px 0px 0px; line-height:1.5; word-break:break-word; font-size:12px; color:rgb(91,97,110)">Will bulls or bears prevail after BTC’s mild decline during crypto’s year-end rally? [Westend61 via Getty Images]</p><p style="margin:48px 0px 16px; font-size:32px; line-height:1.26; word-break:break-word"><strong>What’s up? It’s Coinbase Bytes </strong></p><p style="margin:0px; line-height:1.6; word-break:break-word">There’s never a dull moment on the blockchain. Here’s what you need to know this week:</p><ul style="margin:10px 0px; padding-left:24px; line-height:1.6"><li style="margin:0px; padding:6px 0px"><strong>Bitcoin’s rally took a breather. </strong>After seven straight weeks of gains, BTC saw a price pullback to begin the week.</li><li style="margin:0px; padding:6px 0px"><strong>What is the “relative strength index”? </strong>Learn the basics behind a trading indicator commonly used by the pros.</li><li style="margin:0px; padding:6px 0px"><strong>This week in numbers. </strong>The percent of global assets represented on blockchains, the amount of ETH that’s been “burned” since October, and more stats to know.</li></ul><p style="margin:0px; padding:0px"></p><div class="desktop_hide" style="display:none; max-height:0; overflow:hidden"><table style="width:100%; table-layout:fixed; margin:0"><tbody><tr><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Bitcoin</strong></p><p style="margin:8px 0px">$42,781.94 </p><p style="margin:0; font-size:12px">-2.57% </p></div></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Ethereum</strong></p><p style="margin:8px 0px">$2,255.12 </p><p style="margin:0; font-size:12px">+0.53% </p></div></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>XRP</strong></p><p style="margin:8px 0px">$0.62 </p><p style="margin:0; font-size:12px">-1.41% </p></div></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Solana</strong></p><p style="margin:8px 0px">$69.98 </p><p style="margin:0; font-size:12px">+10.59% </p></div></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Cardano</strong></p><p style="margin:8px 0px">$0.67 </p><p style="margin:0; font-size:12px">+48.43% </p></div></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Avalanche</strong></p><p style="margin:8px 0px">$38.68 </p><p style="margin:0; font-size:12px">+48.54% </p></div></td></tr></tbody></table></a></td></tr></tbody></table></div><div class="mobile_hide"><table style="width:100%; table-layout:fixed; margin:0"><tbody><tr><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Bitcoin</strong></p><p style="margin:8px 0px">$42,781.94 </p><p style="margin:0; font-size:12px">-2.57% </p></div></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Ethereum</strong></p><p style="margin:8px 0px">$2,255.12 </p><p style="margin:0; font-size:12px">+0.53% </p></div></td></tr></tbody></table></a></td><td style="padding-top:40px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>XRP</strong></p><p style="margin:8px 0px">$0.62 </p><p style="margin:0; font-size:12px">-1.41% </p></div></td></tr></tbody></table></a></td></tr><tr><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Solana</strong></p><p style="margin:8px 0px">$69.98 </p><p style="margin:0; font-size:12px">+10.59% </p></div></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Cardano</strong></p><p style="margin:8px 0px">$0.67 </p><p style="margin:0; font-size:12px">+48.43% </p></div></td></tr></tbody></table></a></td><td style="padding-top:20px"><a href="#" target="_blank" style="text-decoration:none; color:#0A0B0D"><table><tbody><tr><td style="padding:0; vertical-align:top"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow.png" height="12" width="12" style="height:12px; width:12px; margin:2px 0px 0px 0px; vertical-align:top"> </td><td style="padding:0; vertical-align:top"><div style="text-align:left; margin:0px 0px 0px 10px; line-height:1"><p style="margin:0"><strong>Avalanche</strong></p><p style="margin:8px 0px">$38.68 </p><p style="margin:0; font-size:12px">+48.54% </p></div></td></tr></tbody></table></a></td></tr></tbody></table></div><p style="margin:20px 0px 0px; line-height:1.5; word-break:break-word; color:rgb(91,97,110); font-size:12px">Price changes are for the past week, ending on Dec 14, 2023 at 01:20 AM UTC</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>See the latest prices</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>MARKET UPDATE </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>Bitcoin shed 7% as crypto’s 2023 rally takes a breather </strong></p></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Crypto prices — powered by <a href="#" target="_blank" rel="noopener noreferrer">optimism</a> over the projected near-term arrival of spot BTC ETFs from finance giants including BlackRock — have trended upward for much of 2023.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">But this week, traders got a reminder that price action goes both ways, with <a href="#" target="_blank" rel="noopener noreferrer">a broad selloff</a> that saw half of the top 10 coins by market cap fall by more than 5%. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">By Wednesday, BTC and ETH prices began to recover after U.S. Federal Reserve Chair Jerome Powell <a href="#" target="_blank" rel="noopener noreferrer">announced</a> that the central bank would again leave interest rates unchanged, and <a href="#" target="_blank" rel="noopener noreferrer">signaled</a> the potential for several rate cuts in 2024.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Here’s what happened, and what might happen next.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>Bitcoin declined after 7 weeks of price increases.</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Bitcoin’s price <a href="#" target="_blank" rel="noopener noreferrer">fell more than 7%</a> to start the week, dropping from around $44,000 on Sunday to $40,150 on Monday afternoon, before recovering to around $42,000 by Wednesday. The drop, which came after seven straight weeks of gains, represented bitcoin’s worst single day since August. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Many market analysts, however, expected the decline to be short lived.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">That’s because Monday’s drop wasn’t largely driven by long-term holders selling. A <a href="#" target="_blank" rel="noopener noreferrer">much bigger factor</a> was short-term traders who had used leverage (or borrowed money) to bet that prices would continue rising, and were forced to sell their positions as bitcoin’s price fell. More than <a href="#" target="_blank" rel="noopener noreferrer">$500 million</a> of leveraged positions were liquidated, which quickly created significant downward pressure on bitcoin’s price. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">This week’s dip might not even be bad news for typical BTC <a href="#" target="_blank" rel="noopener noreferrer">hodlers</a>. Some <a href="#" target="_blank" rel="noopener noreferrer">analysts say</a> that the unwinding of leverage is a healthy sign, because it allows for more sustainable price action moving forward. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">“Corrections shake out ‘weak hands’ and leverage, allowing for a stronger foundation for eventual moves higher,” said Will Clemente, founder of crypto research firm Reflexivity Research. “Bitcoin’s volatility is a feature, not a bug.” </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>BTC “dominance” might be a clue to what happens next. </strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Bitcoin’s decline in price coincided with a decline in its <a href="#" target="_blank" rel="noopener noreferrer">dominance</a>, or BTC’s share of the total crypto market.</p><p>Bitcoin dominance is considered a key crypto indicator. Historically, after BTC dominance peaks, altcoins <a href="#" target="_blank" rel="noopener noreferrer">begin to rally</a>. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Indeed, after BTC’s dominance hit a <a href="#" target="_blank" rel="noopener noreferrer">two-year high</a> of 55.3% on December 5 and began ticking downward, the market cap for altcoins rose to as much as $750 billion — around $100 billion above November levels.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">A decline in bitcoin dominance doesn’t mean BTC prices will keep going down, though. Instead, it could <a href="#" target="_blank" rel="noopener noreferrer">indicate</a> that some traders have been taking profits on their 2023 gains and pivoting into altcoins.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>The bottom line…</strong> </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">It’s rare that any asset class climbs without pause — after all, whenever prices go up, some traders are likely to sell.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">And there are reasons to be optimistic about where markets might head in the coming weeks. In addition to this week’s data showing inflation has <a href="#" target="_blank" rel="noopener noreferrer">continued to cool</a> and the Fed <a href="#" target="_blank" rel="noopener noreferrer">suggesting</a> interest rate cuts could come in 2024, a <a href="#" target="_blank" rel="noopener noreferrer">flurry of activity</a> from spot bitcoin ETF applicants may be teeing up a Securities and Exchange Commission approval that many experts believe could happen by January.</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>Learn about ETFs</strong></a></div><a href="#" target="_blank" rel="noopener noreferrer"><div class="desktop_hide" style="display:none; max-height:0px; overflow:hidden"><img src="https://images.ctfassets.net/q5ulk4bp65r7/11ethN8SqaxfTpSQp5dFNK/2a692d99adc4eceabaa8a5da01590f6e/650x488px_mobile__1_.png" width="100%" style="display:block; width:100%; margin:64px 0px"></div><div class="mobile_hide"><img src="https://images.ctfassets.net/q5ulk4bp65r7/2EIy1P2xeUhtobZGk8Vi8V/f8427ab27cd5eb64dfcd50efe733d669/1060x408px_desktop__1_.png" width="100%" style="display:block; width:100%; margin:64px 0px"></div></a><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>ANALYZE THIS </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>How the “relative strength index” can help inform your trades</strong></p></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">With crypto prices on the move, you might be giving more thought than usual to how you want to trade.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">There are lots of ways to go about it, from simple strategies like <a href="#" target="_blank" rel="noopener noreferrer">dollar-cost averaging</a> (in which you buy a fixed amount of crypto every week or month) to more active ones like digging into <a href="#" target="_blank" rel="noopener noreferrer">technical analysis</a> to gain as much information as you can about market movements.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">If you’re curious about the latter option, we’re compiling some guides about the major charts and indicators you can use to inform your moves. In our second installment (following last week’s guide to <a href="#" target="_blank" rel="noopener noreferrer">candlestick charts</a>), we’re covering the relative strength index (RSI). </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Here’s what you need to know.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>What is RSI?</strong></p><a href="#" target="_blank" rel="noopener noreferrer"><div class="desktop_hide" style="display:none; max-height:0px; overflow:hidden"><img src="https://images.ctfassets.net/q5ulk4bp65r7/2hTyFwq7o3glSE5bmbz9Kg/63d343e8959a7ff6cf05dd872d89ca1e/image1.png" width="100%" style="display:block; width:100%; margin:64px 0px"></div><div class="mobile_hide"><img src="https://images.ctfassets.net/q5ulk4bp65r7/2hTyFwq7o3glSE5bmbz9Kg/63d343e8959a7ff6cf05dd872d89ca1e/image1.png" width="100%" style="display:block; width:100%; margin:64px 0px"></div></a><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">One of the most common <a href="#" target="_blank" rel="noopener noreferrer">indicators</a> used in technical analysis is the RSI, which is a quick way to gain insight into an asset’s “momentum” — or how intensely the market has wanted to buy or sell over a period of time.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">In the Coinbase app or on Coinbase.com, you can check out RSI charts by exploring the “Indicators” drop down menu at the top of a price chart in <a href="#" target="_blank" rel="noopener noreferrer">Coinbase Advanced</a>.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>How is the RSI calculated?</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">As you can see in the example above, the RSI — which is typically paired with a candlestick price chart — fluctuates between 0 and 100.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Assuming the range is set to 10 days, an asset’s relative strength is calculated by dividing the average gains by the average losses over the past 10 days. If that sounds complicated, don’t worry — the chart does the calculations for you. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>What are some things traders look for in the RSI?</strong></p><p>The most common signals traders look for is when the RSI jumps above 70 or falls below 30. </p><ul style="margin:10px 0px 0px; padding-left:24px; line-height:1.6"><li style="margin:0px; padding:6px 0px">When RSI is above 70, it suggests that an asset is “overbought” — which means its upward price momentum is slowing, and could be poised to reverse.</li><li style="margin:0px; padding:6px 0px">When RSI is below 30 it suggests an asset is “oversold” — which means its downward momentum is slowing, and could be poised to reverse. </li></ul><p style="margin:0px; padding:0px"></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">It’s important to know that overbought doesn’t necessarily mean it’s time to sell and oversold doesn't necessarily mean it's time to buy. All it means is that according to this one index, an asset’s momentum up or down might be slowing — and might even be due for a reversal.</p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Bitcoin, for example, <a href="#" target="_blank" rel="noopener noreferrer">has historically maintained RSI levels well into “overbought” territory</a> for months at a time during uptrends, and some traders actually look at overbought RSI numbers on BTC as a sign that its upward momentum will continue. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><strong>The bottom line…</strong></p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Understanding what the RSI might mean in the context of a particular asset or within certain market conditions is one of many ways professional traders can identify trends and potential opportunities. </p><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">But always remember: professional traders rarely ever rely on one indicator, and past performance isn’t indicative of future results. If you’re not sure what trading strategy is right for you, check with a trusted professional advisor.</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:60%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>Learn more about advanced trading </strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>NUMBERS TO KNOW </strong></p></td></tr></tbody></table></div><h1><strong>56,000</strong></h1><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Amount of ETH (worth more than $122 million) that’s <a href="#" target="_blank" rel="noopener noreferrer">been removed from circulation</a> since October 31. Ahead of Ethereum’s “<a href="#" target="_blank" rel="noopener noreferrer">Merge</a>” in 2022, a new inflation-battling mechanism was created to “burn” ETH as transactions rise. For much of 2023, low transaction volumes meant that more new ETH was created than burned, but a recent surge in trades has reversed that trend.</p><h1><strong>100</strong></h1><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Number of <a href="#" target="_blank" rel="noopener noreferrer">NFT digital collectibles</a> that FIFA is releasing in its first batch on the Polygon blockchain. The world soccer organization’s initial NFT drop offers holders a chance to “secure” tickets to the 2026 World Cup Final, which will be held in the U.S.</p><h1><strong>52%</strong></h1><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><a href="#" target="_blank" rel="noopener noreferrer">Price increase</a> of layer-one token Avalanche over the week ending on Wednesday, leading all major altcoins. During Monday’s brief selloff, AVAX was the only coin in the top 10 to remain in the green.</p><h1><strong>0.25%</strong></h1><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word"><a href="#" target="_blank" rel="noopener noreferrer">Estimated share</a> of global assets represented on blockchains. The tokenizing of real-world assets is expected to be among the leading blockchain use cases in coming years, and Coinbase recently announced an effort to work with firms on tokenizing assets on Base, a layer-2 blockchain incubated by the company. </p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>Learn more about Base</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>TOKEN TRIVIA </strong></p></td></tr></tbody></table><p style="margin:5px 0px 0px; font-size:32px; line-height:1.26; word-break:break-word"><strong>What is a good way to improve your online security?</strong></p></div><div style="margin-top:16px"><table style="line-height:1.6; word-break:break-word"><tbody><tr><td style="padding-right:12px"><strong>A</strong></td><td>Use strong, unique passwords</td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>B</strong></td><td style="padding-top:12px">Turn on 2-factor authentication </td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>C</strong></td><td style="padding-top:12px">Maintain a low profile</td></tr><tr><td style="padding-right:12px; padding-top:12px"><strong>D</strong></td><td style="padding-top:12px">All of the above</td></tr></tbody></table></div><p style="margin:16px 0px 0px; line-height:1.6; word-break:break-word">Find the answer at the end of the email.</p><div class="cta_button" style="margin:24px 0px 0px; padding:0px; width:50%"><a href="#" target="_blank" rel="noopener noreferrer" style="display:block; margin:0px; line-height:1.2; font-size:16px; text-decoration:none; color:rgb(255,255,255); background-color:rgb(0,82,255); border-radius:30px; text-align:center; padding:18px 0px"><strong>Brush up on cybersecurity</strong></a></div><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><div><table style="margin:0px; padding:0px"><tbody><tr><td style="margin:0px; padding-right:11px; vertical-align:middle"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width="12" height="12" style="display:block; width:12px; height:12px"></td><td style="margin:0px; padding:0px; vertical-align:middle"><p style="margin:0px; font-size:16px; letter-spacing:0.075em"><strong>NOW TRADING ON COINBASE </strong></p></td></tr></tbody></table></div><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(10,11,13); text-decoration:none"><table style="margin:16px 0px 0px; width:100%"><tbody><tr><td style="font-size:32px; line-height:1.26; word-break:break-word; vertical-align:middle; white-space:nowrap"><strong>JTO</strong></td><td style="vertical-align:middle; padding-left:12px"><img src="https://asset-metadata-service-production.s3.amazonaws.com/asset_icons/d53266873e1dee4508f028a67f53107256435667fa5a79c9ba28b68a54bb03ac.png" width="26" height="26" style="display:block; width:26px; height:26px; vertical-align:middle"></td><td style="vertical-align:middle; text-align:right; width:100%"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings_light.png" width="21" height="18" style="width:21px; height:18px; vertical-align:middle"></td></tr></tbody></table><p style="margin:0px; line-height:1.6">Jito Network is a liquid staking protocol on Solana. </p></a><a href="#" target="_blank" rel="noopener noreferrer" style="color:rgb(10,11,13); text-decoration:none"><table style="margin:16px 0px 0px; width:100%"><tbody><tr><td style="font-size:32px; line-height:1.26; word-break:break-word; vertical-align:middle; white-space:nowrap"><strong>SEAM</strong></td><td style="vertical-align:middle; padding-left:12px"><img src="https://asset-metadata-service-production.s3.amazonaws.com/asset_icons/3c97bcacabdd134aba22724a33f18452098ca44a7295379c07f0e61c24afdb7a.png" width="26" height="26" style="display:block; width:26px; height:26px; vertical-align:middle"></td><td style="vertical-align:middle; text-align:right; width:100%"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Newsletter%20Assets/newlistings_light.png" width="21" height="18" style="width:21px; height:18px; vertical-align:middle"></td></tr></tbody></table><p style="margin:0px; line-height:1.6">Seamless Protocol is a decentralized lending and borrowing platform native to Base. </p></a><table width="100%" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; min-width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top; min-width:100%; padding:48px 0px"><table border="0" cellpadding="0" cellspacing="0" width="100%" align="center" role="presentation" style="table-layout:fixed; vertical-align:top; border-spacing:0px; border-collapse:collapse; border-top:2px solid rgb(222,224,226); width:100%"><tbody><tr style="vertical-align:top"><td valign="top" style="word-break:break-word; vertical-align:top"><span></span></td></tr></tbody></table></td></tr></tbody></table><p style="margin:0px; line-height:1.6; word-break:break-word"><strong>Trivia answer</strong></p><table style="margin:12px 0px 0px; line-height:1.6; word-break:break-word"><tbody><tr><td style="padding-right:12px"><strong>D</strong></td><td>All of the above</td></tr></tbody></table><table style="margin:48px 0px 0px"><tbody><tr><td style="text-align:left"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Rebrand%20Assets/coinbase_footer_wordmark.png" alt="Coinbase" height="26" style="display:block; height:26px; margin-bottom:24px"></td></tr><tr><td><a href="#" title="coinbase ios app" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_apple.png" alt="Download on iOS App store" height="46" style="display:block; height:46px; margin-right:8px"></a></td><td><a href="#" title="coinbase android app" target="_blank" rel="noopener noreferrer"><img src="https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_google.png" alt="Download on Google Play" height="46" style="display:block; height:46px"></a></td></tr></tbody></table><div style="margin-top:24px"><p style="font-size:12px; line-height:1.8; word-break:break-word; color:rgb(91,97,110)">Disclaimer: This material is the property of Coinbase, Inc., its parent and affiliates ("Coinbase"). The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Coinbase or its employees and summarizes information and articles with respect to cryptocurrencies or related topics that the author believes may be of interest. This material is for informational purposes only, and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations or (iii) an official statement of Coinbase. No representation or warranty is made, expressed or implied, with respect to the accuracy or completeness of the information or to the future performance of any digital asset, financial instrument or other market or economic measure. The information is believed to be current as of the date indicated on the materials. Recipients should consult their advisors before making any investment decision. Coinbase may have financial interests in, or relationships with, some of the entities and/or publications discussed or otherwise referenced in the materials. Certain links that may be provided in the materials are provided for convenience and do not imply Coinbase's endorsement, or approval of any third-party websites or their content. <br><br>Coinbase is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. <br><br>© Coinbase 2023 | Coinbase Inc. <br>248 3rd St #434 <br>Oakland | CA 94607 | US <br><a href="#">www.coinbase.com</a> <br><a href="#">Get in touch</a> <br><br><br><a href="#" style="text-decoration:none">Unsubscribe</a> from future editions of Coinbase Bytes.</p></div></div></div></div><img alt="" src="http://comm.coinbase.com/CI0/0100018c6604da4a-d6aaf926-6faa-4935-8c83-1fe4d5d07800-000000/fYLaIli1PbvZrOnZ1AWuuZuj0Bbio9JcbynDotiTBqI=331" style="display:none; width:1px; height:1px"> </body></html>
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