Analyst: Bitcoin's daily chart shows a hidden bearish divergence, with the $80,000 level acting as a key resistance.

BlockBeats News, August 30th, Cryptocurrency analyst Rekt Capital released a Bitcoin technical chart analysis indicating that Bitcoin's phase lows in February and June 2026 both occurred in roughly the same price area, while the RSI was also at almost the same oversold level. After touching bottom twice, BTC rebounded to around $80,000.

He pointed out that compared to the high point in May 2026, when BTC once again rose to around $80,000, the overbought level of the RSI was significantly higher, but the price itself formed a lower high.

With the RSI forming a higher high and the price forming a lower high, Bitcoin saw hidden bearish divergence on the daily chart around the key psychological resistance level of around $80,000. As long as the BTC price fails to break through and form a new higher high, this hidden bearish divergence will continue to exist.

Source

Correction/Report

RelatedRecommended

Bitcoin Revisits $80,000, What Are the Key Support and Resistance Levels?

The cryptocurrency market has experienced intense volatility, with Bitcoin dropping 7% in a single day and trading volume significantly reducing. The Fear and Greed Index has entered the "Fear" zone, and a key technical support level is facing a test. The market is entering a consolidation phase, and investors need to be vigilant against short-term fluctuations and long-term risks.

On-Chain Activity