Bitcoin’s RSI Signals Volatility Ahead of Potential Short Squeeze

Bitcoin’s price is hovering near $110,413, facing resistance from both technical levels and sustained selling pressure from profit-takers. The weekly Relative Strength Index (RSI) remains below critical resistance, signaling a lack of momentum and potential for volatility in the coming days. 7-day moving average realized profits are still above $1.6 billion, holding back further gains as sellers continue to exit positions. Despite recent price stability, Bitcoin’s RSI hasn’t broken its downward trendline for the third consecutive week, highlighting continued bearish momentum while potentially leading to a spike in volatility.