Bullish Bitcoin RSI divergence has analysts calling for 2022-style bear market bottom
Summary
Bitcoin hovered around $60,000 as traders watched signs of a possible rebound. Several timeframes showed bullish RSI divergence: higher swing lows on the hourly chart, a four-hour divergence, and a confirmed daily RSI divergence. Some analysts linked the setup to 2022, when a weekly RSI divergence marked BTC’s bear-market low near $15,600 and later became a durable floor. Despite the bullish signals, some traders still expect more downside first, with $55,000 cited as a possible target before a larger move. One analyst suggested July could bring a relief bounce, but warned that if BTC loses support around $60,000 and the 50-month EMA becomes resistance, August could bring renewed downside.
