Bitcoin’s recent surge to an all-time high of $112,000 has captured global attention, but technical indicators suggest a potential pullback to the $100,000 level.
Analysts point to a bearish divergence in the 30-day Rate of Change (ROC) and a negative shift in the Moving Average Convergence Divergence (MACD) histogram as signs of weakening momentum.
Despite these signals, Bitcoin remains within a bullish upward channel, and the broader outlook is constructive, supported by the recent golden cross of the 50- and 200-day simple moving averages.
Investors should remain vigilant, as a dip to $100,000 could present a strategic buying opportunity. As always, it’s essential to conduct thorough research and consider risk tolerance before making investment decisions.
Although bitcoin remains within a bullish upward channel, the 30-day ROC is forming lower highs, signaling a bearish divergence and weakening momentum.
Additionally, the daily chart moving average convergence divergence (MACD) histogram, an indicator widely used to gauge trend strength and changes, has flipped negative, indicating a bearish shift in momentum.
All this means that BTC could dive out of the bullish ascending channel, potentially revisiting the major psychological resistance-turned-support at $100,000.