What About The RSI? BitcoinDaily MA200 has been working as support; support confirmed, for Bitcoin on the daily timeframe. This is a good signal, a strong one and all is good.
I also looked at the trading volume and this is also good. Clearly rising for a while now. A bullish bias.
I was wondering about the RSI.
How is Bitcoin's daily RSI looking like?
Great news.
Bitcoin's daily RSI hit its lowest level in February 2025 since August 2023. That's a strong one.
The low in February on this oscillator ended up being higher than August 2024. This produces the hidden bullish divergence signal. Very interesting.
MA200 sits perfectly between 0.5 and 0.618 Fib. retracement level support. This level now sits at $83,000. Bitcoin will never trade again below 80K. The bottom is in.
Hold on, I have more. Let's revisit an update that I shared in a previous publications (5 days ago) related to the correction dynamics.
🅱️ Bitcoin's Correction Is Over
An advance from $74,000 to 110K is not the same as an advance from $20,000 to 74K.
The correction from 74 to 49K, -33%, took five months because of the prolonged consolidation between 20,000 and 74,000.
The correction from 110 to 78K totals a nice -28%. Support is found at 0.5 Fib. retracement in relation to the previous bullish phase. This is the exact same level that was hit in the previous correction from 74 to 49K in July/August 2024. The current correction does not need to extend any longer.
The rise from 49 to 110K amounts to 124%.
The rise from 20 to 74K amounts to 270%.
It is logical for the previous correction to be stronger than the current one because of the size of the bullish wave. Since this bullish wave was smaller, the correction also becomes small.
We are now in 2025 and everybody knows that Bitcoin is going up.
If the market couldn't push Bitcoin past 49K last year when doubt was the norm, remember the evil tendencies of the SEC, why would the market produce a stronger correction now when the SEC has been transformed to reasonable and conscious? Instead of a weapon this institution is now doing the job that it was supposed to do in the first place; guidance and support. The SEC is now offering strong support to the Cryptocurrency market and this is great.
Conditions are better now and fundamentals continue to improve.
There is reason to believe that the bottom is in, not only based on the correction size but also based on the fact that Altcoins are turning strongly green.
The correction is over. This is great news.
We are going up.
Once the market hits bottom... The new All-Time High will happen in late 2025.
Bitcoin can easily hit $180,000, $200,000 or more (can be $500,000 to $1,000,000). The Altcoins portion of the market will blow up. Not everything will grow, but most of the market will.
All those projects without a real base will lose momentum and the real Cryptocurrencies will shine the most.
There are lots of choices; choose wisely.
Thanks a lot for your continued support.
Thank you for reading.
Namaste.
