PrimeXBT: Is this the start of a Bitcoin bull run? A 2022 signal appeared before the rally
A weekly momentum divergence formed on the Bitcoin chart ahead of last week’s advance, and the daily reading has since made a move last seen in January 2023. By Jonatan Randin – Senior Market Analyst at PrimeXBT Bitcoin (BTC) ran from around $64,000 to just under $80,000 inside four sessions last week. The explanations offered have mostly been the obvious ones. On 19 August the US Treasury said it would at least double the maximum size of its long-end liquidity support buyback operations, from $2 billion to at least $4 billion per operation, covering 10 to 20 year and 20 to 30 year securities and running from 9 September through 4 November. Long-dated yields fell. Trump met crypto executives at the White House. The SEC had published its Regulation Crypto Assets proposal the day before. All of that is real, and all of it landed inside the same handful of sessions. The weekly chart, though, had been building toward something for months before any of it. The divergence Through the first half of 2026, Bitcoin kept making lower lows. The Relative Strength Index (RSI) did not follow. It made higher lows instead. RSI tracks the momentum behind a move rather than the move itself, so a gap of that kind can indicate selling pressure draining away while price is still technically falling. Traders call it a bullish divergence. On a 15-minute chart these are everywhere and mean very little. On the weekly, where each candle covers a full seven days of trading, they turn up rarely. The last one that looked like this ran through the second half of 2022, into the bear market low. Bitcoin (BTC/USD) weekly, log scale, with RSI.
Key Takeaways
- A weekly momentum divergence formed on the Bitcoin chart ahead of last week’s advance, and the daily reading has since made a move last seen in January 2023.
- By Jonatan Randin – Senior Market Analyst at PrimeXBT Bitcoin (BTC) ran from around $64,000 to just under $80,000 inside four sessions last week.
- The explanations offered have mostly been the obvious ones.
Summary generated by IndiCrypto from NewsBTC. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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