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Bitcoin 
$83,927 price movements continue to provide critical signals in technical analysis. Last year, Rekt Capital accurately predicted Bitcoin’s pre-halving correction and noted significant changes in key indicators. Notably, the divergence in RSI data and the decline in selling volume are drawing attention. The resistance level at $84,000 is increasingly weakening. Technical indicators suggest that buying pressure is strengthening, indicating a potential upward movement in Bitcoin’s price.
RSI Data Indicates Buying Strength
An upward divergence has been detected in Bitcoin’s daily RSI (Relative Strength Index) indicator. Rekt Capital stated that despite the indicator being at low levels, buyers are entering the market. When the RSI remains steady even in oversold conditions, it is viewed as a reversal signal. This signal indicates that buying pressure is increasing, and sellers are beginning to lose strength.
The entry of buyers in the market increases the likelihood of Bitcoin finding support at current levels. In technical analysis, a strengthening of buyers is often seen as a positive signal for a bullish trend. The overall market sentiment is shaping up towards the possibility of price direction changing to the upside.
$84,000 Resistance Weakens
Bitcoin’s resistance level at $84,000 has been tested frequently in recent days. According to Rekt Capital, the repeated testing of this resistance level and the decrease in selling volume increase the likelihood of a breakout. Sellers operating with low volume suggest that the market is offering opportunities to buyers. If this level is surpassed, the resistance could turn into support, potentially boosting price increases.
In technical analysis, the weakening of strong resistance levels is seen as a critical threshold for the beginning of bullish trends. Surpassing this level could enhance investor confidence and accelerate the entry of new buyers into the market. Analysts believe that Bitcoin could reach higher levels in the short term.
Currently, Bitcoin is trading at $83,150. Technical indicators show that buying pressure is increasing in the market, suggesting that Bitcoin may make new movements in the short term. Investors continue to closely monitor price fluctuations.
