Bitcoin’s weekly chart is showing promising signs of strengthening as the RSI continues to climb, hinting at the potential for further upside. However, the battle is not over yet. With the price hovering near the critical support of $107,000, the bulls need to defend this level to prevent deeper downward pressure.
RSI and Price Alignment: A Textbook Case of Momentum Confirmation
In the recent market updateEGRAG CRYPTO asked if the bulls and bears are even analyzing the same chart, as Bitcoin’s current macro weekly structure shows no signs of falling. The broader setup remains firmly bullish, suggesting that the ongoing price movements are part of a healthy uptrend.
The analyst stressed that when the price of Bitcoin and the Relative Strength Index (RSI) rise simultaneously on a weekly time frame, it serves as a confirmation of momentum rather than a warning sign. This alignment often signals strong buying interest and market conviction, supporting the case for continued bullish pressure in the near to medium term.
EGRAG CRYPTO further noted that the exponential moving average (EMA) band remains supportive, reinforcing the strength of the trend. According to experts, the current setup is a clear indication of macro confirmation rather than mere market noise. Such alignment between indicators usually precedes significant continuation phases, showing that the trend remains well-structured and sustainable.
However, the expert added a note of caution, stating that traders should only be cautious if the RSI climbs into overbought territory above 70, which could mean a temporary cooling. For now, with the RSI hovering around 50, Bitcoin still has plenty of room to run. This leaves the market with a strong technical basis and considerable potential for further upward momentum.
Bitcoin Faces Rejection at $111,000: Bulls Lose Control of Momentum
According to the latest Crypto VIP Signal analysisBitcoin is currently facing challenges after failing to sustain its upward momentum above $111,000. A bounce from this point suggests selling pressure remains strong, keeping bullish momentum temporarily in check.
Crypto VIP explained that Bitcoin is now retesting the $107,000 support zone, a critical area that could determine the next possible move. Holding this level is essential to prevent a deeper pullback as it served as a key foundation during previous consolidation phases.
However, a decisive break below the $107,000 support would likely trigger additional selling pressure, potentially extending the ongoing correction. Close monitoring of this level seems important now, as a bounce from here could boost sentiment again, while a breakdown could expose Bitcoin to further downside risks in the short term.
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