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BTC Bulls Push Toward New Peaks Amid Hidden RSI Signal

Bitcoin is approaching a key price level near $115,000, as technical signals suggest buyers may still be in control. A hidden bullish divergence is forming on the charts, and analysts are watching to see if the asset can break above its current resistance.

Despite strong indicators, weak volume and an open futures gap may slow down further gains.

Price Approaches Crucial Resistance Level

Bitcoin is trading around $113,290 after gaining 1% over the past day. The price has stayed above recent lows and is pushing toward a resistance zone close to $115,000. This level also lines up with a trendline that has limited upside since early August.

Cas Abbé, a crypto analyst, noted that Bitcoin is showing signs of a hidden bullish divergence. The Relative Strength Index (RSI) has been forming higher lows, while the price also remains in an uptrend. This setup is often seen as a sign of underlying strength during a market pullback.

Bitcoin (BTC) price chart
Source: Cas Abbé/X

In addition, Bitcoin has moved above both its 20-day and 50-day exponential moving averages, currently near $113,000 and $113,380. These levels are often used by traders to assess short-term momentum. Reclaiming them is seen as a positive sign for the current trend.

Lark Davis shared,

The Moving Average Convergence Divergence (MACD) is nearing a potential crossover that could suggest growing buying interest. The RSI has also climbed above 51, pointing to improving strength.

Lack of Volume Raises Questions

Despite these technical setups, Bitcoin’s trading volume remains low. This has led some traders to question whether the current move has enough support to continue. Davis added, “Missing the volume, though,” which reflects caution in the market.

Traders will be looking to see if the 20-day EMA can now hold as support. If it does, Bitcoin could continue to climb toward the $115,000 mark. If volume stays weak, a short-term pause or pullback remains possible.

CME Gap at $110K May Be Revisited

A new gap has formed on the CME Bitcoin futures chart near $110,000, as we reported. These gaps happen when prices move quickly outside of regular market hours, leaving an area with no trades. Bitcoin has filled every CME gap in the past four months.

With BTC now trading around $112,855, a short-term dip to close this gap cannot be ruled out. Some traders believe the price may revisit this level before moving higher.

Bitcoin is now testing important technical zones. A break above $115,000 could confirm a bullish setup, while a return to $110,000 may delay the move. Traders are closely watching the next few sessions for direction.

The post BTC Bulls Push Toward New Peaks Amid Hidden RSI Signal appeared first on CryptoPotato.

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