While the recent fluctuations for the price of Bitcoin attracted the attention of investors, technical analysis began to give new signals. Analyst Rek Capital, known for correcting the price movements of the leading crypto currency, says Bitcoin can suddenly end the current correction process. According to the analyst, the RSI (relative power index), a critical technical indicator, creates bull mismatch, which strengthens the likelihood of rising.
New guess has arrived for Bitcoin
Rect Capital, one of the analysts in the crypto currency market and correctly predicted Bitcoin’s (BTC) before the Halving in the past year, said that a critical technical indicator of the leading crypto currency was activated. Anonymous analyst, social media platform X’s 542,500 followers of Bitcoin’s daily chart, the relative power seen on the index (RSI), the bull mismatch (Bullish Divergence), he said. The bull mismatch on the RSI is an indicator that shows that the purchase momentum increases while the price is decreasing or horizontal and is generally considered as a reversal signal. Rekt Capital evaluated this situation with the following statements:
There are promising signs that bull mismatch develops at an early stage. The recovery of previous bottoms at $ 84,000 can put the price on a ground where this bull’s incompatibility can even strengthen.
Sales pressure is decreasing
He also stated that Bitcoin’s seller pressure has been reduced and this offers buyers a new opportunity for market control. “The volume of the seller continued to fall in recent days. Now, sellers produce volume below the average when they try to address the market control. This has created an opportunity for buyers to come into play more. ” he said.
According to the analyst, Bitcoin’s resistance at $ 84,000 has begun to weaken, and the breaking of this level can be a critical threshold for price movements. Analyz The signs of weakening resistance were obvious. Now the price must confirm that this resistance is weak enough and can soon turn into a level of support. Bitcoin can continue the rise movement when a one -day closing above this level, ”he says. According to the current market data, Bitcoin is currently trading at $ 83.150. Technical indicators and a decrease in the volume of sellers indicate that a possible rise in the market may be close.
