Bitcoin ($BTC) is forming a crucial price pattern based on the exclusive market statistics. As per the data from Gert van Lagen, Bitcoin (BTC) highlights significant pattern when it comes to technical standpoint, indicating a hidden bullish divergence between the Relative Strength Index and price. The popular crypto analyst took to social media to share insights into Bitcoin’s positive market outlook.

BTC Highlights Potential Hidden Bullish Divergence

The analytics disclose that, while Bitcoin ($BTC) is trading around $105,000, the market onlookers are keenly watching for the steady movement. Hence, if the flagship crypto asset maintains crucial support zone, it could confirm the hidden bullish divergence as well as the renewed uptrend. At present, the price is reportedly going through a consolidation period above the support level.

In the meantime, the Relative Strength Index (RSI) of Bitcoin is seeing lower lows in a descending trendline. The respective divergence, amid weakening momentum while price remains significantly strong, is normally considered a hidden bullish divergence. This is a development that often occurs during price corrections within the continuous uptrend. In line with the new market data, hidden bullish divergence usually serves as a continuation signal.

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It suggests that, following the present consolidation phase, the price will potentially resume the upward movement. Interestingly, such a divergence underscores the core strength in the price trend as sellers lose traction irrespective of heightened efforts. At the moment, bears are making double efforts while witnessing just a partial price retracement of the former $93K to $113K rally. This indicates decrease bearish momentum, paving the way for a substantially bullish breakout.

All Eyes Seek Massive Price Rally and RSI Recovery

In addition to this, if the Bitcoin ($BTC) purchasers reclaim control over the market, the upcoming resistance level is between $112,000 and $113,000. According to Gert van Lagen, as Bitcoin is currently hovering around approximately $105K, everyone is eyeing top crypto asset’s likely bull rally. Apart from that, the Bitcoin traders are continuously looking at likely recovery of RSI above 50 to further bullish continuation.