Bitcoin Breakout Could Hit $83,000 After 22% Rally, But 3 Risks Remain

Bitcoin (BTC) price is up 22% in a week and nearing another breakout, and this one looks more dangerous than the last.

That last breakout came on August 19 and ran on trapped bears. The setup now is the reverse, with crowded longs and supply stacked overhead.

Momentum Runs Ahead of Price as Bitcoin Stays Down in 2026

Between May 14 and August 25, Bitcoin price carved a lower high on the 12-hour chart. The Relative Strength Index (RSI), a momentum gauge that tracks how fast price rises or falls, made a higher high.

That mismatch is a hidden bearish divergence. It does not call a top. It warns the older downtrend may resume.

Volume backs it. Buying has thinned since Bitcoin cleared $70,000 on August 19, and RSI at 81.70 has slipped below its signal line at 83.83, while being in the overbought zone. All these signs point to a possible pullback and the resumption of the downtrend.

The downtrend in question is this year. Bitcoin opened 2026 near $87,650 and trades 9.8% lower today.

… Continue reading the full article at the original source below.