{"id":125646,"date":"2025-03-23T17:16:55","date_gmt":"2025-03-23T17:16:55","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125646"},"modified":"2025-03-23T17:16:55","modified_gmt":"2025-03-23T17:16:55","slug":"bitcoin-in-position-for-first-key-rsi-breakout-in-6-months-at-85k","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125646","title":{"rendered":"Bitcoin &#039;in position&#039; for first key RSI breakout in 6 months at $85K"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) circled $85,000 into the March 23 weekly close as excitement over a key trend change brewed.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<br \/>\nBitcoin price meets decisive RSI setup<br \/>\nData from Cointelegraph Markets Pro and TradingView showed BTC\/USD finding strength during weekend trading.<br \/>\nUp 1.5% on the day, Bitcoin edged higher as part of a broad crypto market uptick, which also lifted various major altcoins.<br \/>\n\u201cI think this next week will be telling where the market wants to head for the next higher timeframe move,\u201d popular trader Daan Crypto Trades wrote in part of his latest X analysis, noting the closing position of CME Group\u2019s Bitcoin futures.<br \/>\nBTC\/USD 15-minute chart. Source: Daan Crypto Trades\/XThe post echoed the broader market sentiment as traders eyed the potential for a fresh push higher into the monthly close.<br \/>\nPopular trader and analyst Rekt Capital reiterated encouraging breakout signs on daily timeframes for Bitcoin\u2019s relative strength index (RSI).<br \/>\n\u201cThe Daily RSI is showcasing early signs of retesting the Downtrend dating back to November 2024 as new support,\u201d he reported.<br \/>\nBTC\/USD 1-day chart with RSI data. Source: Rekt Capital\/XFor fellow analyst Matthew Hyland, however, current price levels held deeper significance.<br \/>\nFor the first time in six months, he revealed on the day that BTC\/USD was about to seal a key bullish RSI divergence on weekly timeframes.<br \/>\n\u201cBTC can make weekly bullish divergence for the first time since September tonight,\u201d he confirmed on X.<br \/>\n\u201cCurrently in position.\u201d<br \/>\nBTC\/USD 1-week chart with RSI data. Source: Matthew Hyland\/XBull market to return in \u201ca couple of weeks?\u201d<br \/>\nElsewhere, trading team Stockmoney Lizards shrugged off the idea that Bitcoin risked entering a long-term bear market.<br \/>\nRelated: Here\u2019s why Bitcoin price can\u2019t go higher than $87.5K<br \/>\nThe local bottom, it told X followers in its latest market analysis, lay at $76,000 \u2014 a level already revisited earlier this month.<br \/>\n\u201cWhile many are panicking and declaring a bear market, the long-term trend channel (green lines) remains firmly intact,\u201d it summarized alongside a chart showing BTC price fluctuations around an average trend line during bull markets.<br \/>\n\u201cThis correction doesn&#8217;t invalidate the uptrend &#8211; it confirms it.\u201d<br \/>\nBTC\/USD 1-week chart. Source: Stockmoney Lizards\/XStockmoney Lizards acknowledged that upside continuation may take some time.<br \/>\n\u201cThis test doesn&#8217;t guarantee an immediate pump, but history indicates we&#8217;re approaching a bottoming zone,\u201d it concluded.<br \/>\n\u201cHow long does this take? Well, nobody knows. These days, news, macroeconomic signals etc. can determine the duration of our correction. Educated guess: a couple of weeks.\u201d<br \/>\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-in-position-first-rsi-breakout-6-months-85k?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) circled $85,000 into the March 23 weekly close as excitement over a key trend change brewed.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView Bitcoin price meets decisive RSI setup&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125646"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125646"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125646\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125646"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}