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Bitcoin’s Relative Strength Index is approaching oversold levels near 30, a technical threshold that has historically preceded short-term price rebounds, according to traders who now forecast a potential relief rally toward $100,000 to $110,000.
The cryptocurrency is testing its 50-week moving average around $102,000—a support level that analysts say could trigger renewed buying interest after weeks of sustained selling pressure.
One of the most critical signals driving the bullish Bitcoin price prediction is the cryptocurrency’s proximity to the 50-week moving average, currently near $102,000.
According to market analyst Laura Chen of CryptoMarkets Insight, “Whenever Bitcoin dips below its 50-week moving average, we typically see retracement toward that level. This time could be no different.”
The analysis points to large traders, or “whales,” opening new long positions even as sentiment drops into extreme fear territory.
This combination of market psychology and technical indicators strengthens the near-term Bitcoin price prediction, suggesting that a rebound toward $100,000–$110,000 is on the horizon.
Bitcoin’s weekly RSI approaching the 30 level has historically marked potential bottoming zones.
Additionally, trading volume metrics show stabilization, with long positions increasing among institutional traders. Such movements typically signal confidence from market participants who expect near-term upward price action.
Beyond technicals, macroeconomic conditions may further reinforce a bullish Bitcoin price prediction. Expectations that quantitative tightening may conclude, coupled with speculation of an upcoming interest rate cut, could ease financial conditions for risk assets.
The Crypto Fear & Greed Index recently climbed from “Extreme Fear” to a “Fear” reading of 28 after an 18-day stretch in negative sentiment.
This subtle shift aligns with the short-term bullish Bitcoin price prediction, suggesting that market panic may be subsiding.
Mister Crypto emphasized, “Sentiment is a key driver in crypto markets. Even a small improvement can trigger a relief rally, particularly when combined with technical support levels like the 50-week moving average.”
Overall, the current Bitcoin price prediction points to a possible short-term relief rally toward $100K, fueled by technical oversold signals, whale activity, and improving market sentiment.
While long-term caution remains warranted, analysts agree that traders may find opportunities in this temporary rebound.
As Chen summarized, “Bitcoin may be carving out a bottom for now, but smart traders should remain vigilant. Short-term gains are possible, but the broader trend has yet to show decisive recovery.”
As Bitcoin hovers near its short-term bottom, the Bitcoin price prediction signals a potential surge toward $100K, driven by oversold conditions, whale activity, and improving sentiment.
While caution is warranted amid lingering bear-market risks, savvy traders may see this as a prime window for strategic gains, making the next few weeks pivotal for crypto markets.
