Bitcoin traded near $80,000 after a roughly 25% rebound over the previous week, while its weekly momentum profile began to resemble the pattern seen near the 2022 bear-market low. TradingView data showed Bitcoin’s weekly relative strength index, or RSI, rising to 58.3, its highest level since BTC/USD traded near $126,200 in October 2025.
The weekly reading has drawn attention because Bitcoin’s RSI has been making higher lows while price has formed lower lows through 2026. That combination, known as bullish divergence, can indicate that selling pressure is weakening even before the price chart establishes a sustained uptrend. A similar divergence appeared during the 2022 bottoming process, when Bitcoin’s momentum improved before the market’s longer recovery became clearer.
The setup gives the latest rebound a more constructive backdrop than a simple short-covering rally, but the daily chart is flashing a separate warning: Bitcoin’s rapid gains have pushed near-term momentum into levels often associated with overheated conditions.
Daily RSI reaches its highest level since November 2024
TradingView’s daily BTC/USD chart placed RSI at 82.93 after the rebound, the highest daily reading since November 2024. RSI is commonly calculated over 14 periods and measures the balance between average gains and losses. Readings above 70 are typically described as overbought, meaning price has risen quickly enough that a pause or pullback becomes more likely.
An overbought RSI does not automatically signal a reversal. Strong advances can keep the indicator elevated for extended periods, especially when a market is recovering from a sharp decline. It does show that the current pace of buying has been unusually fast compared with recent trading conditions.
The contrast between the daily and weekly charts places Bitcoin in a familiar but difficult phase for traders. The weekly RSI suggests the market may be building a foundation for a larger trend shift, while the daily RSI indicates that much of the immediate buying pressure may already have been spent.
A short-term decline would not necessarily damage the longer bullish-divergence structure. In fact, a controlled pullback that allows daily RSI to cool while Bitcoin holds above recent support areas would provide a cleaner test of whether the rebound is attracting durable demand rather than purely momentum-driven buying.
The 2022 comparison depends on price confirmation
The comparison with late 2022 is based on the direction of momentum rather than an exact repeat in price behavior. During that earlier period, Bitcoin continued setting lower price lows as weekly RSI began improving. The divergence eventually preceded a broader recovery, but the pattern did not establish a precise timetable for the turn.
Charts can identify changes in momentum, yet they cannot determine whether a rally will become a new cycle advance or fade beneath prior resistance. Bitcoin’s weekly RSI moving above 50 is generally watched as evidence that average gains are beginning to outweigh average losses on that time frame. The latest rise to 58.3 strengthens that argument, although Bitcoin would need to preserve the improvement through future weekly closes.
The daily move also shows why timing based on a single indicator can be risky. RSI measures the speed and persistence of price movement, rather than cash flows, macroeconomic conditions, derivatives positioning, or selling from large holders. A reading above 80 can precede a correction, but it can also occur during the early stages of a stronger rally when price repeatedly exceeds short-term expectations.
Stochastic RSI adds a longer-term signal
On the two-month chart, stochastic RSI recorded a crossover after falling to 4.81, according to the supplied TradingView-based analysis. Stochastic RSI is a more sensitive momentum oscillator derived from RSI readings. Traders often watch crossovers from low levels for clues that a prolonged loss of momentum may be ending.
The indicator’s low point was above the near-zero readings seen before some earlier macro-scale Bitcoin downturns. That distinction has led some chart analysts to argue that the current weakness may have been less severe than prior full-cycle collapses. It does not settle the question of whether Bitcoin has completed a bear-market phase, since long-period indicators can remain ambiguous while price continues to test major levels.
The more useful reading is that several slower measures are turning upward together. Weekly RSI has recovered above the middle of its range, and two-month stochastic RSI has shifted direction from depressed levels. Those moves place greater weight on the behavior of Bitcoin during any near-term correction.
Fund flows and mining data add context, but not certainty
The supplied article also cited $1.92 billion of weekly net inflows into U.S. Bitcoin exchange-traded funds, describing the figure as the largest weekly intake in 10 months. Sustained ETF buying can absorb spot-market supply and give large traditional-market participants a regulated route to Bitcoin exposure, though weekly flow figures can reverse quickly when price volatility rises.
The report further said Bitcoin’s network hashrate exceeded 600 exahashes per second. Hashrate measures the computing power securing the blockchain, and a higher figure generally raises the cost of attacking the network. It is a measure of network security and miner participation, not a mechanism that prevents Bitcoin’s price from falling.
Bitcoin’s current chart structure therefore offers a split verdict. Longer-term momentum is improving in a way that resembles an earlier cyclical turning point, while daily momentum shows that the latest rebound may need to cool before its durability can be tested.
Wondering how to act on this BTC setup? Read our latest outlook in Should You Buy Bitcoin While It’s Still Over $70,000.
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