Bitcoin Stabilizes Into the Weekend, But Market Sentiment Remains Uneasy
Bitcoin (BTC) showed signs of stabilization as it headed into the weekend, yet market sentiment remained far from relaxed about its near-term outlook. Increasingly, BTC price forecasts are featuring sub-$100,000 levels, reflecting cautious expectations among traders and investors.
One technical indicator providing some optimism is the Relative Strength Index (RSI). Despite daily RSI hitting its lowest point since April—when BTC/USD dipped to $75,000—the four-hour chart revealed a clear bullish divergence developing. As Bitcoin’s price made new local lows, the RSI formed higher lows, suggesting that the selling pressure was easing below the $110,000 mark.
This divergence has led some analysts to highlight a conflict between the encouraging signals from this leading indicator and the overall bearish market sentiment. Supporting this outlook, the Crypto Fear & Greed Index plunged to 22/100 on Friday, entering the “extreme fear” zone for the first time since April.
Looking ahead, this RSI rebound could become more pronounced if traditional stock markets head higher in the coming week, potentially lifting Bitcoin values alongside.
Related: $120K or End of Bull Market? 5 Things to Know in Bitcoin This Week
Important Disclaimer:
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making decisions.
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