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Bitcoin shows technical signals that could set up a $100,000 rally
The article points to a bounce of about 23% from recent lows, plus reclaiming the $74,000 Fibonacci level, as Bitcoin trades around $77,700.
Bitcoin is showing multiple technical signals that, according to analysis cited by Yahoo Finance, resemble the momentum shift that preceded Bitcoin’s rebound from its 2022 bear-market low. The piece highlights that during both declines, weekly RSI formed higher lows while price lows were lower or flat, suggesting downside momentum was fading.
Yahoo Finance reports Bitcoin’s latest setup includes a rebound of about 23% from recent lows, with Bitcoin trading around $77,700 on Aug. 24. The analysis says Bitcoin has reclaimed the 0.236 Fibonacci retracement level near $74,000, and that holding $74,000 as support could expose further Fibonacci targets around $84,000 and $92,000.
The article also flags a key upside marker near $100,300, tied to Bitcoin’s 0.618 Fibonacci retracement. At the same time, it warns that weekly RSI may be developing bearish divergence as price rebounds, and that a move back below $74,000 or a loss of the 20-week EMA near $70,000 would increase the risk of a deeper correction.
It also cautions that the pattern does not guarantee Bitcoin has established another macro bottom, even as the momentum structure looks similar to the earlier recovery phase.
Latest closeBitcoin $79,098.68 ▲0.2%