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Scott Melker projects Bitcoin rally on bullish RSI signals

Scott Melker projects Bitcoin rally on bullish RSI signals
@scottmelker: Melker projects Bitcoin rally

Crypto analyst Scott Melker has identified a potential rally for Bitcoin driven by a bullish divergence emerging from an oversold RSI on the 4-hour chart.

He anticipates the 6-hour and 12-hour charts to follow the same trend shortly. Melker emphasizes that such divergences building across multiple time frames are among his preferred setups. Traders will be keenly observing market movements over the coming hours to confirm Melker’s projections.

Melker’s outlook on bullish divergences aligns with previous observations of pivotal market shifts, such as the recent surge in Bitcoin price to $126K amid strong ETF inflows. Broader factors, including forecasts anticipating $17 trillion in U.S. investments, may also play a role in shaping trader sentiment in the current environment.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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