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Bitcoin 
$81,050 continues to trade around 20% below its peak levels from the beginning of the year. Market analyst Rekt Capital highlights positive signals in technical indicators, suggesting that the recent increase in selling pressure might be easing. The weekly RSI finding support at 44 and the divergence observed in the daily chart are fueling cautious recovery expectations among traders. Experts emphasize the importance of risk management as volatility persists.
Potential Easing of Selling Pressure
According to Rekt Capital, a decrease in selling volume has been observed in the cryptocurrency market, which has been dominated by sellers over the past two weeks. This indicates that seller fatigue may be setting in. The maintenance of the weekly RSI at 44 is interpreted as a technical signal suggesting Bitcoin is nearing a price floor.
The analyst expresses that the gradual decline in selling pressure could lead to a search for balance in the market. Especially, maintaining support levels on the weekly chart may create an environment where new buyers could enter. However, caution is advised due to high volatility.
Positive Signals in Technical Indicators
An interesting development is occurring in Bitcoin’s daily chart: while prices are declining, the RSI is showing an upward trend. This divergence is termed “positive divergence” in technical analysis and is seen as an early signal of a potential trend reversal.
Rekt Capital states that rising RSI values may pave the way for price recovery. The critical maintenance of the weekly RSI suggests a scenario where buyers could become more aggressive. However, it is essential to remain aware that the market may react unpredictably. Current data supports the possibility of a short-term recovery, yet investors are advised to focus on liquidity and risk management.
