Macro investor Jordi Visser identified a bullish RSI divergence in Bitcoin for the first time since the end of last year, signaling a potential shift in the cryptocurrency's technical outlook. Visser stated this technical development has changed his expectations for the coming months while Bitcoin fluctuates around the $62,000 level. The analyst argues this divergence should be viewed as a buying opportunity, with the technical signal detected on the 4-hour RSI chart indicating possible recovery after Bitcoin's recent decline.
Visser Identifies RSI Divergence Signal on 4-Hour Chart
Speaking on Anthony Pompliano's YouTube channel, Visser explained the technical signal he detected. According to the analyst, Bitcoin broke the $60,000 level and the price formed a new low, but the RSI indicator remained above the previous low. This pattern is considered a bullish divergence in technical analysis, indicating that selling pressure is weakening and buyers are beginning to gain strength.
Visser stated this technical outlook offers an attractive risk-return ratio for investors. He argued that a move above $60,000 could be considered a buying opportunity, while potential risks can be limited with stop-loss levels. "As an investor, I think, 'Okay, now that we get above 60, I can buy something and close myself off with a stop loss back below the lows,'" Visser said.
Analyst States Bitcoin Near Bottom with $100,000 Target
Visser stated he believes Bitcoin is near its lowest point, but acknowledged a drop to $50,000 or even $45,000 is not out of the question. The analyst expressed confidence in Bitcoin's long-term trajectory, stating, "Do I think we'll be above $100 in a year? Yes. So what difference does it make whether I bought something at $60 or another price?"
The macro investor's comments suggest he views current price levels as an entry point regardless of minor fluctuations in the near term, with his year-ahead target exceeding $100,000.
FED July 29 Meeting Could Impact Bitcoin Price Movement
Visser stated he sees a 35% to 40% probability that the US Federal Reserve will raise interest rates at its July 29 meeting. However, he added that assessments of FED officials regarding the possibility that artificial intelligence could increase inflation in the short term while having a deflationary effect in the long term indicate they may be reluctant to raise interest rates.
According to the analyst, a scenario where the Fed keeps interest rates unchanged could support Bitcoin's rise back above the $70,000 level. This connection between monetary policy and Bitcoin price movement forms a key part of Visser's outlook for the coming months.
FAQ
What technical signal did Jordi Visser identify in Bitcoin?
Jordi Visser identified a bullish RSI divergence on Bitcoin's 4-hour chart for the first time since the end of last year. This occurred when Bitcoin's price formed a new low below $60,000, but the RSI indicator remained above its previous low, suggesting weakening selling pressure and strengthening buyer interest.
What is Jordi Visser's price target for Bitcoin?
Visser stated he believes Bitcoin will be above $100,000 within a year. He also suggested that if the Federal Reserve keeps interest rates unchanged at its July 29 meeting, Bitcoin could rise back above the $70,000 level. The analyst views current levels around $60,000 as a buying opportunity, though he acknowledges potential drops to $50,000 or $45,000 are possible.
