This Indicator Suggests a Mega Bitcoin Breakout Will Arrive Soon

The Bitcoin (BTC) market has not been too dramatic since June started, as meets the eye. However on closer inspection, the leading crypto is facing a very important moment, and a hidden bull divergence is suggesting that there may be enough gas in the tank to push through a major resistance zone.

We first look at the daily chart to see why the smaller moves are important. Bitcoin is now squeezed very tightly under multi-year resistance, stemming from the 2017 bull market.

Very important zoneBTC chart by TradingView

Low volume suggests we are going to see a conclusion soon to this movement, with a breakout or breakdown. If Bitcoin breaks up, it could result in a massive move that could easily re-hit the coin’s $20k high.

Down to the 4-hour chart now, we see that Bitcoin has settled into a gently uptrending channel with multiple tests of support around $9,400.

Hidden bullish divBTC chart by TradingView

On the RSI here, we see the key highlight for today: throughout June, we see a hidden bull divergence to go along with the gently uptrending price. This suggests that that gentle uptrend could continue—and break free of the uber-critical resistance that Bitcoin is currently trending through.

Again, if that happens, it will be the first time in 2.5 years above that trendline; there is no telling what could follow.

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