Bitcoin May Surge to $130K as Weekly RSI Enters Oversold Territory
Bitcoin's RSI and Historical Patterns: Bitcoin's weekly RSI has dropped near 30, a level historically associated with significant upward rallies, indicating potential for a recovery phase similar to past cycles in 2020 and 2022.
Current Market Structure: The current price structure shows characteristics of previous post-correction patterns, with sharp selloffs and long-wick reactions suggesting market exhaustion and possible transition to an upward trend.
U.S. Buying Pressure: The Coinbase Bitcoin Premium Index has turned positive, indicating renewed U.S. buying interest, which typically supports recovery phases during oversold conditions.
Potential Price Targets: Analysts speculate that Bitcoin could reach between $110,000 and $130,000, aligning with previous post-correction advances, although a massive rally like in 2020 is considered less likely in the current market cycle.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 41302.145 | 50651.072 | 60662.145 | 70011.072 | 80022.145 | 89371.072 | 99382.145 |
| Fibonacci | 50651.072 | 58046.592 | 62615.552 | 70011.072 | 77406.592 | 81975.552 | 89371.072 |
About BTC
About the author








