Bitcoin’s potential for recovery: Despite current bearish divergence on the RSI, historical data shows Bitcoin tends to rise in similar scenarios. For example, in Q4 2023, Bitcoin’s price jumped from 32,000 USD to 43,789 USD against similar indicators.
Analysis predicts bullish trend: Ash Crypto emphasizes that previous market cycles with technical setups akin to today’s have led to significant price gains. Current RSI readings suggest bullish momentum, indicating an ongoing cycle rather than a market peak.