Bitcoin Weekly Chart Shows Bullish Divergence on June 8, Eyes $90K Target

According to BlockBeats, Bitcoin's weekly chart showed a bullish divergence signal on June 8, the second occurrence in history, as the RSI indicator rebounded above 34 while price fell from $75,800 to around $63,000.

Analysts identified the technical setup as a bullish sign, with the price forming lower lows while momentum indicators formed higher lows, suggesting weakening selling pressure. The first key technical target is near the 50-week moving average at approximately $91,800. Analyst Michael van de Poppe noted that the 200-week moving average around $62,000 represents an ideal long-term entry zone, with resistance levels at $64,000-$65,000 before potential moves toward $71,500-$73,000 and $90,000 above.