$BTC $BTC
Bitcoin is currently swinging in a narrow price range after several failed attempts to break the $110,000 level earlier this month. The last few days have been characterized by trading the leading cryptocurrency around the $105,000 level, with no control from either optimists or pessimists. Despite the overall state of consolidation, a subtle yet important signal has begun to emerge, especially on the four-hour chart, which could push Bitcoin to a new all-time high soon.
The return of a rare divergence pattern on the four-hour Bitcoin chart
Crypto analyst Luka (@CrypticTrades_) posted on social media X a chart highlighting an important technical development on Bitcoin's four-hour timeframe: the return of bullish divergence. This signal, which appeared earlier in early April, preceded a massive surge that lifted Bitcoin to its all-time high of $111,800 on May 22. The same divergence pattern is forming again, and a breakout in Bitcoin's price may be very close.
