Bitcoin surged from $84,500 to $87,200 in just 15 hours, liquidating $216 million in short positions, before reversing sharply within an hour of weaker-than-expected unemployment data. Since then, Bitcoin has dropped $3,100, wiping out $278 million in long positions over five hours. Technical analysts are tracking the RSI closely as Bitcoin approaches resistance levels, with a break above the recent high near $87,300 potentially opening the path to $90,000. However, continued bearish divergence on the RSI could still signal this level marks a near-term top.
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