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Scott Melker, owner and content creator, highlights that BTC is showing confirmed and potential bullish divergence with oversold RSI across multiple time frames, including 4-hour, 6-hour, 12-hour, daily, and weekly charts.
Melker describes the alignment of these signals on various time frames as his preferred indicator, suggesting that such patterns represent favorable odds for bullish momentum.
Melker recently highlighted panic selling in crypto markets after both a minor BTC sale by Strategy and movements in Mt. Gox-linked wallets, despite the absence of large transactions, according to a previous report. He has also covered JPMorgan's decision to raise its S&P 500 year-end target to 7,800, citing strong AI-driven earnings, in a separate market update. These earlier observations provide additional context to Melker’s focus on currently developing technical signals for Bitcoin.