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MarketEditor’s PickCryptocurrency Market NewsBitcoin (BTC) News
Aug 22, 2026
3min read
byLuis Blanco
forBeInCrypto
Bitcoin traded near $77,260 after peaking close to $79,500, up more than 22% on the week but hit by a flash crash to about $76,300 that liquidated over $500 million in longs and contributed to $1.35 billion+ in 24‑hour liquidations. The 4‑hour RSI reached its highest level in over seven years, prompting split analyst views between a short‑term pullback to $70,000–$72,000 or an extension toward $83,000–$88,000, leaving the crypto market, exchange derivatives (CEX/DEX) risk, and broader adoption momentum at a key decision point.
See what traders are focused on
In Brief
- Bitcoin traded near $77,260 on Saturday, after touching an intraday high of $79,500 in the prior session.
- The 4-hour RSI reached its highest level in more than seven years, raising caution among traders.
- Short-term scenarios range from $83,000 to $88,000 on the upside, to $70,000 to $72,000 in a deeper correction.
Bitcoin traded near $77,260 on Saturday, according to market data, after reaching an intraday high close to $79,500 before a sudden flash crash rattled the market.
The asset climbed more than 22% over the past week, but a technical signal is starting to raise caution among traders.
https://x.com/KrownCryptoCave/status/2090954734912032803
What the RSI Shows and Why It Matters
The relative strength index (RSI) measures price momentum on a scale of 0 to 100 and is considered overbought above 70. On the 4-hour chart, the indicator now sits at its highest level in more than seven years.
Analyst Krown noted early Saturday that this RSI extreme is good for the long term, but not for the short term. Readings above 80-90 reflect temporary exhaustion of demand.
Historically, those levels tend to precede short-term corrections or consolidations, though they do not necessarily mark the end of an uptrend.
The market already saw an initial shock in the early hours of Saturday. Bitcoin retreated sharply from around $79,500 down to a low near $76,300, in what traders described as a flash crash.
“$BTC is holding above its weekly bull market support band. A weekly close above this zone is needed for more upside in Bitcoin,” crypto analyst Ted said on X.
Bitcoin (BTC) Price Performance
The move liquidated more than $500 million in long positions within minutes. It formed part of total liquidations exceeding $1.35 billion over the past 24 hours, according to market data.
Analysts Split on What Comes Next for Bitcoin Price
Views among widely followed analysts remain split. Shardi B warned that the daily RSI sits at one of its highest levels in history and recommended caution.
Others note the indicator stood at 84, close to resistance zones that have historically punished late buyers. Several point to the possibility of a local top or a significant pullback that would test the current price structure.
“Low timeframe wave count has been pretty tricky on bitcoin since the start of our expansion because of the extended 5th subwave to the upside, but I think it might be time for a pullback/local top if the initial move is finally complete,” analyst CredibleCrypto noted.
On the more constructive side, some argue that when RSI reaches these extremes, it is never the end of the move, and that momentum typically continues higher before correcting. A target of $83,000 to $85,000 is being floated for the coming weeks, allowing only for minor pullbacks.
From current levels, the short-term scenarios traders are weighing fall into two camps. An extension toward the $83,000 to $88,000 zone, if the $75,000 to $76,000 support holds.
Or a deeper correction toward $70,000 to $72,000, should momentum fade following the overbought extreme and the recent flash crash.
The market, therefore, sits at a decision point. The question is whether the extreme RSI reading signals only a healthy pause or the start of a more significant adjustment after the strong weekly rally.
Source: cryptorank.io