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Bitcoin’s recent climb to $105,000 has done little to alleviate concerns about its momentum. The cryptocurrency saw a modest 0.03% increase in the last 24 hours but remains 3.5% below its value from a week ago.
Analyst Captain Faibik suggests that this lack of significant gains and weakening strength may indicate that traders are buying Bitcoin at its peak.
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Bearish RSI Divergence Signals Weakness
The Relative Strength Index (RSI) has been declining despite Bitcoin’s price reaching new highs, with the RSI currently at 61.88. This divergence between price and RSI often precedes a potential pullback, indicating a correction could be imminent.
Faibik predicts a possible pullback to the $92,000–$94,000 range after Bitcoin’s recent highs, prompting traders to remain vigilant and adjust their strategies accordingly.
$BTC is showing a massive RSI Bearish divergence on the weekly chart..!!
It looks like Bitcoin has topped out and is now Ready for a major correction toward the 92–94k Range..📉
Just like it bottomed out at 16k in November 2022,
We bought the dip and now we’re selling the… pic.twitter.com/W25HCAxkIa— Captain Faibik 🐺 (@CryptoFaibik) June 18, 2025
Resistance Levels Keep Price In Check
Bitcoin has encountered strong resistance levels at $108,000 and $109,000, set in May 19, as well as facing a barrier from an ascending trendline since December 2024. Failure to surpass these levels may lead to a sell-off, as historically observed with RSI divergence.
This Activity Points To Caution
The derivatives market adds complexity to the situation, with Bitcoin futures and options trading volume increasing by 1.60% while open interest decreased by 1.30%. The market has seen liquidations of $71 million in long positions over the past 24 hours, indicating potential profit protection measures.
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Past Patterns Offer Mixed Lessons
Comparing Bitcoin’s current situation to its rebound in 2022, it’s evident that the RSI levels are significantly different, signaling caution rather than a bullish trend. Faibik warns traders that past successes do not guarantee future outcomes, especially given the evolving market conditions.
Featured image from Trade Brains, chart from TradingView