Bitcoin Weekly RSI Points To More Upside, But Can the Bulls Defend $107,000?

Bitcoin’s weekly chart shows promising signs of strength as the RSI continues to climb, hinting at the potential for further upside. However, the battle isn’t over ￰0￱ price hovering near the critical $107,000 support, bulls must defend this level to prevent deeper downside ￰1￱ And Price Alignment: A Textbook Case Of Momentum Confirmation In a recent market update, EGRAG CRYPTO questioned whether the bulls and bears are even analyzing the same chart, as the current macro weekly structure of Bitcoin shows no signs of ￰2￱ broader setup remains firmly bullish, suggesting that the ongoing price movements are part of a healthy ￰3￱ Reading: Bitcoin (BTC) Price Eyes $114,000 Retest Amid Bounce, But Analyst Suggests Caution The analyst emphasized that when Bitcoin’s price and the Relative Strength Index (RSI) rise simultaneously on the weekly timeframe, it serves as a confirmation of momentum rather than a warning ￰4￱ alignment often signals strong buying interest and market conviction, supporting the argument for continued bullish pressure in the near to ￰5￱ CRYPTO further highlighted that the Exponential Moving Average (EMA) ribbon remains supportive, reinforcing the trend’s ￰6￱ the expert’s view, the current setup is a clear indication of macro confirmation, not mere market ￰7￱ alignment between indicators typically 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 wary if the RSI climbs into overbought territory above 70, which could suggest a temporary ￰8￱ now, with RSI hovering around 50, Bitcoin still has plenty of room to ￰9￱ leaves the market with a strong technical foundation and considerable potential for further upside ￰10￱ Faces Rejection At $111,000: Bulls Lose Grip On Momentum According to Crypto VIP Signal’s latest analysis, Bitcoin is currently facing challenges after failing to sustain its upward momentum above $111,000. The rejection from this point suggests that selling pressure remains strong, keeping bullish momentum temporarily in ￰11￱ Reading: Bitcoin On-Chain Activity Slumps Below 365-Day Average – Is Momentum Losing Steam?

Crypto VIP explained that Bitcoin is now retesting the $107,000 support zone, a critical area that could determine the next possible ￰12￱ this level is essential to prevent a deeper pullback, as it has 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 ￰13￱ this level closely now appears important, since a bounce from here could reignite bullish sentiment, while a breakdown might expose Bitcoin to further downside risks in the short ￰14￱ image from Pixabay, chart from ￰15￱