PREPARE! BITCOIN & ALTCOIN RECOVERY RALLY HAS STARTED! THE CRYPTO MARKET BOTTOM MAYBE IN!
June 16, 2026
AI Summary
5 min readBitcoin had been trading in extreme oversold territory on multiple timeframes, with the daily Relative Strength Index (RSI) deep in the red and the Fear and Greed Index pinned at "extreme fear." Market sentiment was so bearish that prominent figures like Jim Kramer were calling for Bitcoin's death. Then, almost on cue, the price reversed, climbing back above $66,000. Tony Edward, host of the Thinking Crypto Podcast, argues that this is not a random bounce but a textbook counter-trend rally triggered by deeply oversold conditions—and that the data, institutional behavior, and global regulatory momentum all point to the possibility that the cycle bottom is already in.
The strongest technical signal Edward points to is a bullish divergence forming on the weekly RSI chart, which he says mirrors the pattern seen at the 2022 cycle bottom. On the daily chart, the Moving Average Convergence Divergence (MACD) has already flipped bullish, with a confirmed cross and rising momentum. The monthly RSI remains at levels that matched previous cycle lows, suggesting that a long-term reversal could unfold over the coming months. Edward is careful to caveat that markets can fake out—Bitcoin could still roll over and retest lower levels—but he emphasizes that the alignment of technical indicators across multiple timeframes makes a strong probabilistic case for the bulls.
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What you'll learn
- 1 (01:08) **Introduction & Market Overview** - Tony Edward introduces the episode and notes the recent positive price action, with Bitcoin recovering above $66,000 and signaling a potential bottom.
- 2 (02:17) **Relief Rally vs. New All-Time Highs** - The host explains that this likely isn't a move to new all-time highs but a relief rally similar to the one from February lows.
- 3 (02:54) **Bullish Weekly RSI Divergence** - A key technical observation: a bullish divergence is forming on the weekly RSI, similar to what was seen at the 2022 bottom.
- 4 (03:45) **Monthly Chart & Long-Term Outlook** - The monthly RSI is at levels seen at previous cycle bottoms, supporting a potential reversal in the coming months.
- 5 (04:09) **Stock Market Correlation & Crypto as Canary** - The host emphasizes watching the stock market (S&P 500, NASDAQ) because crypto often acts as a leading indicator.
- 6 (05:46) **Sentiment & On-Chain Metrics** - The Fear & Greed Index remains in extreme fear, which bodes well for the rally.
- 7 (06:28) **Geopolitical & Institutional Narratives** - A narrative shift: reports of a completed deal with Iran could signal peace and opening of the Strait of Hormuz, which is bullish for risk assets.
+ Full timestamped outline available in the app
Guests on this episode
Show Notes
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⏰ Time Stamps ⏰
00:00 Intro
00:24 Bitcoin analysis
06:08 Coinbase CEO Bullish
07:04 BTC & ETH dip buying
08:27 Blackrock BTC Premium Income ETF
11:40 Zimbabwe Crypto regulations
12:55 Taiwan Bitcoin Reserve
13:40 Ethena $250 Million Securitize Tokenized fund
14:23 Exodus & Ondo Tokenized stocks on Solana
14:39 Tokenized Assets AI management
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#Bitcoin #Altcoins #Crypto #CryptoNews #Cryptocurrency #BTC #
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