Key Technical Observations
Weekly RSI Divergence: On the weekly timeframe, Bitcoin has recently formed a "TBT Bullish Divergence." While the price retested previous lows, the RSI created a higher local low, a classic signal that the downtrend's momentum is fading.
MACD Bullish Crossover: The weekly MACD has produced a bullish crossover from historic lows. Historically, this specific signal has preceded massive rallies, such as the 380% gains seen in previous cycles.
Price Context: Bitcoin is currently testing a major psychological resistance level at $80,000. It has recently recovered roughly 25% from a multi-year low below $60,000.
Support & Resistance:
Resistance: Immediate hurdles are at $78,000–$80,000.
Support: Strong support is identified around $73,000–$75,000 and the 50-day EMA
Weekly RSI Divergence: On the weekly timeframe, Bitcoin has recently formed a "TBT Bullish Divergence." While the price retested previous lows, the RSI created a higher local low, a classic signal that the downtrend's momentum is fading.
MACD Bullish Crossover: The weekly MACD has produced a bullish crossover from historic lows. Historically, this specific signal has preceded massive rallies, such as the 380% gains seen in previous cycles.
Price Context: Bitcoin is currently testing a major psychological resistance level at $80,000. It has recently recovered roughly 25% from a multi-year low below $60,000.
Support & Resistance:
Resistance: Immediate hurdles are at $78,000–$80,000.
Support: Strong support is identified around $73,000–$75,000 and the 50-day EMA