Analyst Ash Crypto has revealed evidence suggesting that Bitcoin's current rally could extend to between $150,000 and $200,000, despite bearish signals on the RSI indicator.
Current Market Situation
Some analysts point to bearish divergence on the daily RSI as a warning sign for potential price correction. Ash Crypto, however, believes the current market conditions resemble Q4 2023, where Bitcoin rose from $32,000 to $43,789 despite showing bearish divergence.
Analysis of Historical Price Cycles
Looking at previous market cycles, Ash Crypto emphasizes that similar technical setups have preceded significant price appreciation rather than marking local tops. The recurring nature of these patterns, especially during strong uptrends, suggests that the current RSI divergence may be another false bearish signal.
Forecast and Conclusions
Building on historical fractal analysis, the expert projects Bitcoin could reach between $150,000 and $200,000. This forecast is supported by the asset's demonstrated ability to continue climbing despite seemingly bearish technical indicators, potentially marking just an interim point in Bitcoin's larger bullish cycle.
While caution is suggested, historical precedent and market structure support the potential for continued Bitcoin growth.
