Bitcoin Price: Bullish or Bearish Divergence Around $63K?

The Bitcoin price is moving around $63K and showing conflicting technical signals at this moment. Analyst Michaël van de Poppe looks at both a potential upward and downward movement, but for now leans towards the positive scenario. According to him, $61K remains a crucial support zone that should give direction to the market in the coming days.

Bitcoin is available at OKX and Bybit.

Two opposing signals on the chart

On the daily chart, two rival interpretations are visible. On the one hand, there is a strong bullish divergence, suggesting that the market is about to reverse and move upwards. On the other hand, a potential bearish divergence is forming: the price is not setting higher highs, while the indicators currently are. This kind of contradiction makes a clear call extra difficult.

In his analysis, Van de Poppe gives more weight to the bullish divergence, partly because the same positive signals are also visible on the higher time frames for Bitcoin. This aligns with earlier technical analyses pointing to a possible reversal from current levels.

$61.000 as key zone for the further course

The analyst states that $61.000 must hold as support to keep the bullish scenario alive. As long as the price remains above that level, he expects Bitcoin to turn upwards again in the coming days. On the chart, it can be seen that there are important horizontal levels around $60.880 and $58.115 that the market is watching.

A sharp correction is exactly what Van de Poppe wants to avoid. As he points out: you absolutely do not want to see a large decline at this moment. That could significantly damage the technical picture and put further pressure on the market, something that is already at play given the recent pressure on the Bitcoin price. For now, there is cautious optimism, but the market still has some work to do to fully confirm the bullish picture.