Bitcoin is fighting to hold $60,000, and some traders see a familiar pattern forming. A bullish RSI divergence on the four-hour chart has people comparing current conditions to late 2022 — the last bear market floor.
Here’s what’s happening: RSI is making higher lows while price makes lower lows. That’s the textbook setup. Pseudonymous trader Rod posted a chart overlaying the current market with 2022 and wrote, “Once you see it, you can’t unsee it. It’s 2022 again.” Bold call.
The four-hour RSI hit 11.4 earlier this month — one of its lowest readings ever. Analyst Lukasz Wydra says the bullish divergence is now “officially confirmed” on daily time frames too, noting that Binance continues to defend the price. He calls it an encouraging sign.
But not everyone’s buying the bounce. STABL Agency cofounder Niels Klaver still sees $55,000 before any real reversal. Rekt Capital thinks July might bring temporary relief — it typically outperforms June — but expects August to cancel that bounce once the 50-month EMA confirms as new resistance, with $60K weakening as support.
So the signal’s there. A genuine RSI divergence preceded the 2022 bottom at $15,600. Whether history repeats or just rhymes is the question everyone’s arguing about right now.
