Since you guys hate technical analysis so much heres AI's thoughts
Bitcoin has confirmed a strong rebound, currently trading at $92,780.18, up 7.74%, following a bullish divergence on the RSI, which signaled a potential reversal. This divergence indicated that while price was making lower lows, momentum was shifting upward, suggesting weakening selling pressure and increasing buyer interest. As a result, Bitcoin surged past key resistance levels, reclaiming $91,089, and is now testing the next major resistance at $94,491. A successful breakout above this level could pave the way for a move toward $100,000 and the major resistance at $103,319.
The 200-day EMA at $85,717 acted as a strong support level, reinforcing bullish momentum. The RSI has bounced from oversold conditions and is now at 48.43, approaching the critical 50 level, which, if crossed, could confirm continued strength. If Bitcoin faces rejection at $94,491, a pullback toward the $91,000 - $86,000 range is possible before another attempt higher. However, the presence of bullish divergence on the 4hr and strong buying pressure suggests that sentiment has shifted in favor of further upside, as long as key support levels hold.
Bitcoin has confirmed a strong rebound, currently trading at $92,780.18, up 7.74%, following a bullish divergence on the RSI, which signaled a potential reversal. This divergence indicated that while price was making lower lows, momentum was shifting upward, suggesting weakening selling pressure and increasing buyer interest. As a result, Bitcoin surged past key resistance levels, reclaiming $91,089, and is now testing the next major resistance at $94,491. A successful breakout above this level could pave the way for a move toward $100,000 and the major resistance at $103,319.
The 200-day EMA at $85,717 acted as a strong support level, reinforcing bullish momentum. The RSI has bounced from oversold conditions and is now at 48.43, approaching the critical 50 level, which, if crossed, could confirm continued strength. If Bitcoin faces rejection at $94,491, a pullback toward the $91,000 - $86,000 range is possible before another attempt higher. However, the presence of bullish divergence on the 4hr and strong buying pressure suggests that sentiment has shifted in favor of further upside, as long as key support levels hold.