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Has Bitcoin Price Topped Out? Chart Hints At Major Drop to This Key Level
The latest Bitcoin chart shared by analyst Captain Faibik is starting to raise some serious red flags. According to him, Bitcoin may have just topped out, and the signals from both the price chart and the RSI suggest that a major correction could be around the corner.
At first glance, the weekly BTC price still looks strong. It’s hovering just below its recent highs, trading above $104,000. But what’s happening beneath the surface tells a different story. Captain Faibik points out a massive bearish divergence on the Relative Strength Index (RSI), a momentum indicator used by traders to gauge buying or selling pressure.
In the chart, we can clearly see that while the Bitcoin price has continued to push slightly higher, the RSI has been making lower highs. This kind of divergence usually signals that the bullish momentum is weakening, even if the price hasn’t dropped yet. It’s the same kind of setup that appeared near Bitcoin’s previous major tops, where price moved up but RSI dropped off.
Faibik calls this a “massive RSI bearish divergence,” and based on past patterns, he believes Bitcoin is due for a pullback. The last time Bitcoin formed this kind of setup, it ended with a multi-month downtrend.
Potential Correction Toward $92,000 to $94,000
Based on his analysis, Faibik is now calling for a drop in BTC price to the $92,000–$94,000 range. This isn’t a crash, but it would be a meaningful correction from current levels. And considering how fast Bitcoin has climbed over the past year, a pullback here would not be surprising.
The same chart shows another key detail: the price appears to be forming a slight bearish rising wedge pattern, with higher highs on the price but flatter tops. This kind of structure often breaks downward, especially when it lines up with an RSI divergence.
Faibik is also reminding followers that this moment feels a lot like November 2022 but in reverse. Back then, BTC bottomed at $16,000. Now, he believes it’s topping and those who bought the dip should consider locking in gains.
Read Also: Why Kaspa Whales Are Quietly Loading Up on KAS During the Dip
Why This Signal Matters for Bitcoin
For traders and investors watching Bitcoin’s next move, this kind of divergence is a classic early warning sign. It doesn’t guarantee a collapse, but it shows that the bulls may be running out of steam. If momentum continues to fade, Bitcoin could lose support and trigger a wave of selling.
Captain Faibik’s call is straightforward. He believes now is the time to be cautious, not greedy. The RSI has spoken, and unless the bulls can push Bitcoin decisively higher and invalidate this divergence, the next major move could be downward.
As of now, the Bitcoin price sits around $104,000, but Faibik’s analysis suggests that a return to $92,000–$94,000 may be the healthy reset the market needs before any future rally.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
The post Has Bitcoin Price Topped Out? Chart Hints at Major Drop to This Key Level appeared first on CaptainAltcoin.
At first glance, the weekly BTC price still looks strong. It’s hovering just below its recent highs, trading above $104,000. But what’s happening beneath the surface tells a different story. Captain Faibik points out a massive bearish divergence on the Relative Strength Index (RSI), a momentum indicator used by traders to gauge buying or selling pressure.
In the chart, we can clearly see that while the Bitcoin price has continued to push slightly higher, the RSI has been making lower highs. This kind of divergence usually signals that the bullish momentum is weakening, even if the price hasn’t dropped yet. It’s the same kind of setup that appeared near Bitcoin’s previous major tops, where price moved up but RSI dropped off.
Faibik calls this a “massive RSI bearish divergence,” and based on past patterns, he believes Bitcoin is due for a pullback. The last time Bitcoin formed this kind of setup, it ended with a multi-month downtrend.
Potential Correction Toward $92,000 to $94,000
Based on his analysis, Faibik is now calling for a drop in BTC price to the $92,000–$94,000 range. This isn’t a crash, but it would be a meaningful correction from current levels. And considering how fast Bitcoin has climbed over the past year, a pullback here would not be surprising.
The same chart shows another key detail: the price appears to be forming a slight bearish rising wedge pattern, with higher highs on the price but flatter tops. This kind of structure often breaks downward, especially when it lines up with an RSI divergence.
Faibik is also reminding followers that this moment feels a lot like November 2022 but in reverse. Back then, BTC bottomed at $16,000. Now, he believes it’s topping and those who bought the dip should consider locking in gains.
Read Also: Why Kaspa Whales Are Quietly Loading Up on KAS During the Dip
Why This Signal Matters for Bitcoin
For traders and investors watching Bitcoin’s next move, this kind of divergence is a classic early warning sign. It doesn’t guarantee a collapse, but it shows that the bulls may be running out of steam. If momentum continues to fade, Bitcoin could lose support and trigger a wave of selling.
Captain Faibik’s call is straightforward. He believes now is the time to be cautious, not greedy. The RSI has spoken, and unless the bulls can push Bitcoin decisively higher and invalidate this divergence, the next major move could be downward.
As of now, the Bitcoin price sits around $104,000, but Faibik’s analysis suggests that a return to $92,000–$94,000 may be the healthy reset the market needs before any future rally.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
The post Has Bitcoin Price Topped Out? Chart Hints at Major Drop to This Key Level appeared first on CaptainAltcoin.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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