🚨 Is Bitcoin gearing up for a new rally?
On the weekly candlestick chart, BTC has flashed a signal that's only been seen twice in its history.
We're talking about a bullish RSI divergence.
📊 While Bitcoin's price dropped from $75,800 to $63,000, the RSI indicator started climbing out of the oversold zone above the 34 level.
For technical analysts, this often signals weakening selling pressure and a potential trend reversal.
Interestingly, a similar signal appeared in the past and preceded a massive market recovery.
🎯 If history repeats itself, the next serious hurdle for BTC could be the $90,000 area.
Of course, one indicator doesn't guarantee a rally.
But such signals on the weekly timeframe are extremely rare.
Do you believe in a new bull cycle, or is this just a temporary bounce?
$BTC $ETH $BNB
#Bitcoin #BTC #Crypto #trading #RSI
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On the weekly candlestick chart, BTC has flashed a signal that's only been seen twice in its history.
We're talking about a bullish RSI divergence.
📊 While Bitcoin's price dropped from $75,800 to $63,000, the RSI indicator started climbing out of the oversold zone above the 34 level.
For technical analysts, this often signals weakening selling pressure and a potential trend reversal.
Interestingly, a similar signal appeared in the past and preceded a massive market recovery.
🎯 If history repeats itself, the next serious hurdle for BTC could be the $90,000 area.
Of course, one indicator doesn't guarantee a rally.
But such signals on the weekly timeframe are extremely rare.
Do you believe in a new bull cycle, or is this just a temporary bounce?
$BTC $ETH $BNB
#Bitcoin #BTC #Crypto #trading #RSI
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