Bitcoin’s hovering around $60,000 and feeling the heat as June wraps up, but some key technical indicators are telling a more optimistic story.
The standout: relative strength index divergence on multiple timeframes. After Bitcoin’s recent lows, the RSI is making higher lows while price makes lower lows. Classic bullish divergence. And unlike previous dips this year, where RSI just followed price down, this divergence is new.
Is this the one? asked pseudonymous trader Heisenberg on social media, noting that the last two oversold RSI divergences in 2026 preceded genuine bottoms.
Not everyone’s convinced yet. June has been rough: BTC is down nearly 19%, its worst month since 2022. Analyst Van de Poppe says a break above $61,000 would confirm momentum. Until then, one commentator thinks $60K feels a lot like $30K in 2022, that level that took months of testing before it finally broke.
Onchain data adds another wrinkle: what some analysts call a first bottoming flag, suggesting the worst may already be priced in.
July has historically been kind to Bitcoin bulls. Macro catalysts loom too, like labor market data and developments in Middle East peace talks that could shift sentiment quickly.
Short term pain. Long term setup? Maybe.
