The price of Bitcoin has struggled around the $115,000 region for the past few days, but analysts are seeing technical signs that a major breakout is imminent.
The price of Bitcoin has struggled around the $115,000 region for the past few days, but analysts are seeing technical signs that a major breakout is imminent.
Crypto commentator Ash Crypto, who has over 2 million followers, highlighted a key technical signal on Bitcoin’s weekly chart: a hidden bullish divergence. This pattern occurs when the price forms higher lows while the Relative Strength Index (RSI) forms lower lows.
On the attached chart, Bitcoin’s price action shows a steady series of higher lows, while the weekly RSI has dipped to form lower lows. This setup suggests that underlying momentum remains strong even during a temporary pullback.
Ash, the divergence has not yet played out, suggesting that the market may be primed for a significant upside move in the fourth quarter. Historically, hidden bullish divergences indicate that buyers are quietly gaining strength, which can precede sharp rallies.
At the time of analysis, Bitcoin is trading around $115,700, with no meaningful price improvements over the past day or the past week.
If the divergence confirms, traders will be watching for a potential massive pump into Q4. This aligns with seasonal trends where Bitcoin often gains momentum toward year-end.
MicroStrategy Chairman Michael Saylor expects Bitcoin to surpass $150,000 by Christmas, echoing widespread analyst sentiment. This would require a 30% increase.
Saylor attributes the expected surge to rising adoption, with more companies adding Bitcoin to their balance sheets amid its fixed supply.
His prediction follows Tom Lee’s earlier forecast of $200,000 by year-end, citing Bitcoin’s historical Q4 strength and a potential Fed rate cut as catalysts.
Other analysts, including Canary’s CEO and firms like Steno and Standard Chartered, also see BTC reaching $150K–$200K by year-end.
Should the price of Bitcoin move as predicted, altcoins could experience even bigger price gains, ushering in the much-anticipated altcoin season.
