Bitcoin is trading at $62,502, up 1.26% over the past 24 hours. Daily trading volume stands at $25.47 billion, while market capitalization is at $1.25 trillion. Bitcoin’s market dominance is 57.99%.
Analyst Ali Martinez said three uncommon bullish signals have appeared at the same time on Bitcoin’s 12-hour chart. In his view, the setup suggests the latest wave of selling is losing momentum, and traders are watching it closely for clues on short-term direction.
Three technical signals align on the 12-hour chart
The first signal comes from the Tom DeMark Sequential, which has printed a buy indication. The second is a bullish divergence on the Relative Strength Index, or RSI. That pattern usually means price has continued lower while underlying momentum begins to improve. One more shift stands out. The SuperTrend indicator has also flipped to a bullish reading, adding support to the case for a short-term recovery.
The report notes that TD Sequential is commonly used to spot potential market turning points, while SuperTrend tracks short-term trend changes using price and volatility. For analysts, these signals still need confirmation from sustained buying in the spot market.
$65,400 stands out as the next upside level
If buying interest backs the current setup, analysts see $65,400 as the next major target. That level also matches a resistance line highlighted by the TD Sequential indicator, which is why it has become a near-term focal point.
A break above nearby resistance with solid buying activity would put that price level at the center of market attention. If support fails instead, Bitcoin may stay range-bound and any recovery could be delayed.
On-chain data points to a possible bottoming zone
On-chain metrics are telling a similar story. Blockchain analytics firm CryptoQuant said Bitcoin’s realized profit and loss ratio has fallen to -0.35, the lowest reading in 43 months.
According to CryptoQuant, sharp drops in this metric have historically shown up near long-term bottoming periods for Bitcoin, followed by recoveries. The firm also warned that the signal should not be treated as definitive proof of a reversal. It is historical context, not certainty.
With multiple technical indicators lining up alongside an on-chain measure with historical relevance, expectations for a rebound have gained traction. Analysts still caution that no single indicator can provide an absolute read on where the market goes next.