Analysis: Bitcoin's RSI is releasing multiple bullish signals, suggesting that the price of BTC may rebound to $105,000.

PANews reported on January 9th that, according to Cointelegraph, trader BitBull pointed out in his analysis that Bitcoin's weekly Relative Strength Index (RSI) broke through a three-month downtrend line in December and has remained stable ever since. This classic leading indicator maintains a bullish signal, suggesting that the price may rise further. Based on the similarity between this breakout pattern and the rally after the lows in April last year, BitBull predicts that Bitcoin may reach the $103,000 to $105,000 range within the next 3 to 4 weeks. According to trader James Easton, Bitcoin's two-week RSI is currently below the lows of the bear market at the end of 2022 and has just turned bullish. On shorter timeframes, the four-hour chart shows a potential hidden bullish divergence, meaning that selling pressure is weakening as Bitcoin attempts to establish $90,000 as a support area.

However, some traders still expect the market to test lower support levels. Some believe the price may retrace to the lows of around $75,000 from last April, or even fall below the 2026 opening price. Intraday order book data shows passive sellers continuously placing orders around $91,500 to suppress the price, but trader Skew points out that these orders are only 60 to 100 bitcoins each, having a limited impact, while there is clear buying power during the US trading session.