#BTCOutlook

It is reasonable to think that the fall of Bitcoin is due to a massive bearish divergence between its price and the relative strength index over the last month. This type of divergence is generally followed by a drop of 8% to 10%, which could be considered a necessary reset.

There are those who believe that a deeper correction for Bitcoin may occur based on the same divergence pattern. Comparing the current price action of Bitcoin with January 2024, if a similar outcome develops, the sale of BTC could extend as low as $85,000. Obviously, it is a possibility. Nobody has a crystal ball in the market.

However, if we analyze the medium-term charts of BTC, a bearish structural breakout is revealed. But there is a clear invalidation for a bullish reversal if Bitcoin continues to close a daily candle above $95,000.

It will all be a matter of time, but we are certainly facing an exciting moment in a market that increasingly attracts the eyes of new investors.