Bitcoin is on the verge of a trend shift, reaching $85,000 and showcasing a key RSI breakout.
Current Position Analysis
Over the weekend, Bitcoin strengthened, climbing 1.5%, as part of a broad crypto market uptick. Notable traders like Daan Crypto Trades highlighted the importance of this week for the market's future direction. Analyses show encouraging signs for an RSI breakout in daily timeframes for Bitcoin.
Bull Market Potential
Matthew Hyland underscored the significance of current price levels, noting a chance for Bitcoin to record a key bullish RSI divergence on weekly timeframes for the first time in six months.
Outlook and Predictions
Stockmoney Lizards expressed confidence in the long-term upward trend despite concerns of a bear market. They believe the local bottom has already been tested at $76,000, and the current correction supports the uptrend.
Bitcoin awaits confirmation of key metric functions and a potential bull market resurgence in the coming weeks.
