Bitcoin Prints Rare Weekly RSI Bullish Divergence

In a rare event in the history of Bitcoin, a weekly Relative Strength Index (RSI) bullish divergence has been printed. This is an incredibly rare occurrence and one that could potentially signal the bottom of the market for Bitcoin. Technical indicators have been pointing to a potential bottom for some time now, with charts screaming for a reversal in trend. However, despite this, most investors remain in full bear mode and are yet to make any significant moves. The RSI is an oscillator-type indicator used to measure momentum on a scale of 0 to 100. A bullish divergence occurs when the price action prints lower lows while the RSI prints higher lows. This indicates that buying pressure is increasing and can be seen as an early warning sign of an impending uptrend. In this case, Bitcoin’s weekly RSI printed its first bullish divergence since February 2018 - more than two years ago - indicating that there may be further upside potential for the cryptocurrency if buyers step up their activity in the coming weeks or months. Analysts have noted that this could be a once-in-a-lifetime opportunity for investors who are willing to take advantage of it by investing at current prices or even lower levels should they occur in future trading sessions. The overall sentiment among analysts remains cautiously optimistic but many believe that it is still too early to call a bottom definitively until we see more evidence from other technical indicators such as volume and moving averages over time. For now, investors should remain vigilant and keep an eye out for any signs of strength or weakness as we move forward into what could potentially be one of the most pivotal periods in Bitcoin’s history thus far.