- Bitcoin breaks out of a falling wedge and RSI trendline, confirming bullish momentum and setting up conditions for a strong rally.
- Stochastic RSI crossover in oversold territory signals renewed upward momentum, matching patterns seen during Bitcoin’s previous bull cycles.
- Short-term Bitcoin holders return to profit after two months, supporting positive sentiment and reinforcing strength behind the recent price rise.
Bitcoin shows renewed bullish momentum, breaking out of key technical patterns. Traders are watching as strong indicators signal the potential for a sustained rally.
Bitcoin Forms Bullish Patterns and Breaks Key Resistance Levels
According to Crypto Crew University, Bitcoin has broken out of a falling wedge pattern, supported by a bullish RSI trendline break. The chart analysis indicates a green weekly candle printing after multiple bullish continuation patterns. Previous breakouts from similar structures led to major rallies.
The RSI is showing a bullish divergence, as the price made lower highs while the RSI recording higher lows. This divergence suggests strength beneath the surface. Moreover, the RSI held critical support between the 45–50 zone, typically seen as a bull market floor during previous cycles.
Stochastic RSI Signals a Strong Upward Shift for Bitcoin
Crypto Crew University further noted a bullish crossover in the Stochastic RSI, occurring deep in oversold territory. Historically, such moves have preceded powerful rallies in Bitcoin’s bull cycles. This crossover strengthens the bullish outlook and supports the case for further upward movement.
With the breakout confirmed across multiple indicators, market participants see growing evidence that buyers are regaining firm control. Bitcoin’s technical structure is setting up a scenario where it could challenge previous highs in the near future.
Bitcoin Price Climbs as Short-Term Holders Return to Profit
As reported by Darkfost, short-term holders (STHs) have now moved back into profit after two months of unrealized losses. Their MVRV (Market Value to Realized Value) ratio has risen above 1, a key condition for a sustainable uptrend.
Bitcoin’s price today stands at $94,283.48, with a slight 0.18% decline over the past 24 hours but a 10.57% increase over the past seven days. Although some holders may seize the chance to sell, the general structure points toward continued momentum as buying strength returns.
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