- A bullish Stoch RSI crossover is forming in Bitcoin and, if confirmed, will signify a potential rally.
- Price is above key support as the falling wedge broke out.
- BTC dominance reached a 3-year high as altcoins struggled, indicating market favor for Bitcoin.
Bitcoin may be on the verge of another leg up, as technical indicators suggest momentum is building. Titan of Crypto on X details that the monthly Stochastic RSI has a potential bullish crossover, a pattern not seen since before Bitcoin’s explosive 2021 rally. If this crossover is confirmed, it can signal the start of a new renewed upward phase and even push the price to new all-time highs.
A similar crossover on the monthly chart in the 2021 cycle resulted in a 56% gain in months. The setup comes as Bitcoin trades just below $97,000, or around 11% off its January peak. The price is already moving toward resistance at around $100,000 in a similar zone where the current crossover is forming.
The market is now in an ‘imminent’ setup flagged by analyst Titan to revisit historic performance patterns. If buyers confirm momentum near key levels in the coming weeks, Bitcoin could be thrust into near-key levels.
Breakout From Wedge Reinforces Bullish Outlook
According to The Crypto Express’s Daily chart analysis, Bitcoin has broken out from an extended falling wedge, usually regarded as a bullish structure. Along with the breakout, a major push above the major support resistance area around $94,000 to $96,000 has been seen. Bitcoin is holding above this key level, and the Ichimoku Cloud continues to lend strong underlying support.
However, the breakout zone is expected to be retested, allowing bulls to confirm the trend shift before heading to even higher zones. Failure of this retest is being watched closely by analysts, as failure to hold would invalidate short-term bullish bias, while a bounce would help reinforce the case for further upside.
However, the broader technical setup is stronger due to the breakout structure with monthly stochastic signals. Market participants are seeking volume expansion and continued dominance increase to support the current move.
Bitcoin Dominance Hits 3-Year High as Alts Lag
On Friday, Bitcoin’s market dominance climbed to 64.89%, the highest since January 2021. This shift highlights that the capital is now moving into BTC rather than altcoins, which have been underperforming the past few weeks.
TradingView data shows that Bitcoin’s dominance was below 58% at the beginning of the year and had already fallen further in the wake of the U.S. election. Since then, however, policy changes that included BTC and tariff rollbacks have helped lift the main flag while alts lag.
Ethereum, Solana, and Dogecoin remain significantly below their all-time highs, with losses ranging from 43% to 61%. Yet, BTC has recovered courtesy of policy changes and tariff rollbacks, while alts have struggled to keep pace with the currency.
BTC sentiment also benefited from the recent Trump administration’s compromises on tariffs. Although these measures first disrupted the market, risk appetite has revived in the Bitcoin market, aided by exemptions and softening of trade positions.
Japan’s Metaplanet doubled down on its Bitcoin strategy on the corporate front. The Tokyo-based hotel operator raised 3.6 billion yen, or $24.8 million, by borrowing money from bonds to purchase more BTCs. The company already had more than 5,000 BTC in its accounts and sold all the zero-interest bonds on EVO FUND.
