Bitcoin’s price action continues to provide critical technical signals, with analysts closely watching its next move. Rekt Capital, the analyst who correctly predicted Bitcoin’s pre-halving correction last year, has highlighted key changes in market indicators. The Relative Strength Index (RSI) is showing bullish divergence, and selling volume is declining, suggesting that resistance at the $84,000 level is weakening. These factors indicate a possible breakout as buying pressure gains momentum.
RSI Signals Strengthening Buy Pressure
Bitcoin’s daily RSI is showing a positive divergence, despite being in a lower range. According to Rekt Capital, this indicates that buyers are entering the market, even at current price levels. Typically, when RSI is in oversold territory but the price does not decline further, it is considered a reversal signal, suggesting that sellers are losing control.
The increasing presence of buyers could mean that Bitcoin is finding strong support at its current levels. In technical analysis, rising buying pressure is often a precursor to a bullish trend reversal. Market sentiment is shifting, with growing expectations of an upward move.
$84,000 Resistance Losing Strength
Bitcoin has tested the $84,000 resistance multiple times in recent days. According to Rekt Capital, frequent tests of a resistance level, combined with declining selling volume, increase the likelihood of a breakout. When sellers show lower volume at a critical level, it often signals that buyers are gaining control. If Bitcoin successfully breaks this resistance, it could turn into a new support level, paving the way for further price increases.
Technical analysis suggests that weakening resistance is often a crucial moment before a new uptrend begins. If Bitcoin surpasses this key threshold, it could boost investor confidence and attract new buyers into the market. Analysts believe that in the short term, Bitcoin has the potential to climb to new highs.
Currently, Bitcoin is trading at approximately $83,150, with technical indicators pointing to growing buy-side pressure. Investors are closely monitoring price movements, anticipating possible breakout scenarios in the coming days.
As the market evolves, Dey There will continue to provide expert insights and analysis on Bitcoin’s latest developments.
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