Multiple Bullish and Bearish Signals Indicate Bitcoin Reversal Near $60,000

Bitcoin shows converging technical signals indicating a potential bottom formation. The major and minor indicators are aligned for a possible trend reversal. With the price trading near $60,000, several technical factors reinforce the thesis of price stabilization.

The Powerful Reversal Signal: RSI at Historic Lows

The daily Relative Strength Index (RSI) of Bitcoin has reached its lowest level since March 2020, an event that hasn’t occurred in nearly six years. This is one of the most significant signals in technical analysis, indicating an excessively prolonged downward move.

When RSI hits such extreme levels, it often signals an oversold condition, which frequently precedes a substantial price reversal. This isolated signal already suggests that the market bottom may be consolidating, creating potential for a change in price dynamics in the coming periods.

The convergence of this extreme RSI signal with other technical indicators increases the likelihood that the downtrend cycle is nearing its end.

Confirmation by Volume: The Repeating Pattern

A particularly interesting pattern emerges from volume analysis. In August 2024, when Bitcoin experienced a sharp decline, the day with the highest selling volume was precisely the day when selling pressure subsided. The same phenomenon is happening now, with the market producing its highest volume since that time.

This larger-scale volume signal is a classic indicator that weak hands have exited the market and the bottom is being established. The repetition of this pattern between August 2024 and February 2026 provides significant technical confirmation that the downward momentum is losing strength.

Technical Signals Converge: Support and Fibonacci

In addition to volume and RSI indicators, price analysis reveals a strong support zone being tested, the same technical barrier mentioned in recent analyses. Bitcoin managed to react above the Fibonacci retracement level at $57,772, a relevant technical point that acts as a support base.

The convergence of these multiple signals—from extreme RSI to volume confirmation and respect for Fibonacci levels—strengthens a scenario where a reversal becomes increasingly likely. The price is consolidating near $60,000, offering potential for a trend change in the cryptocurrency markets.