- Bitcoin confirms bullish divergence with lower price lows and higher oscillator lows, suggesting momentum may shift toward an upward trend.
- Support at $76,400 held firm as price bounced from the lower Bollinger Band, indicating buyers are active at critical technical zones.
- The accumulation/distribution line remained upward during price drops, signaling consistent demand and potential continuation of accumulation phases.
Bitcoin’s technical outlook shows renewed bullish signals following the confirmation of regular bullish divergence on multiple timeframes. The recent analysis, combined with market data and sentiment shared via X, points to the possibility of renewed upward momentum.
Technical Analysis Signals
A recent tweet by crypto analyst JAVONMARKS emphasized the confirmation of regular bullish divergence on Bitcoin. The tweet explained that price action continues to record lower lows, while a momentum oscillator demonstrates higher lows, marking a clear setup.
The chart analysis covers various timeframes where bearish momentum appears to weaken. Technical study reveals that despite the formation of lower lows in price, the oscillator moves upward at critical points. This observation supports the argument that selling pressure may be diminishing, which is watched closely by technical analysts.
Market Support Levels Under Test
Recent data indicates Bitcoin’s price has tested a major support region near $76,400. The daily BTC/USDT chart shows price touching the lower Bollinger Band while closing above the critical level. This test reiterates the strength of the support as buyers step in at known price floors.
The chart incorporates the 20-day simple moving average, which sits around $83,771. Price action below this level is being monitored by traders, as any move above could signal a sustained reversal. A long lower wick in the recent candlestick suggests that buying interest remains present at key support zones.
Market Sentiments and Indicators
The revised technical setup reports that the accumulation/distribution line has maintained an upward trend despite recent price corrections. This movement suggests that market participants may be absorbing sell pressure, as demand remains steady. Traders observe these trends as part of their broader analysis when assessing entry points.
The current structure shows the potential for a rebound if Bitcoin can maintain support above critical levels. Price stabilization near $76,400 and successful tests of important technical boundaries add to the cautious optimism. A close above short-term resistance levels may confirm a shift in trend and bolster bullish sentiment among investors.
Bitcoin was exchanging hands at approximately $79,125.92 as of writing, and 24-hour volume came close to $72.4 billion. Its price rose 3.40% in the last 24 hours even though it dropped over the previous week.
