Bitcoin Breakout or False Dawn: Analyst Weighs in on Crypto Reversal
Crypto analyst Jamie Coutts says that while signs of a turnaround are building for altcoins, confirmation isn't yet here. He's tracking Bitcoin, which has been stuck in the low $60,000s since February following what he calls a capitulation low.
According to Coutts, price has mostly moved sideways with one counter-trend rally of about 30%, which is normal behavior for Bitcoin bear markets. However, he notes that Bitcoin needs to break above the high $70,000s to confirm the downtrend has actually reversed.
Coutts uses weekly RSI divergences as his go-to signal for spotting when a downtrend is losing steam. He's watching for divergence building at the bottom, waiting to be confirmed by an actual higher high and higher low.
He's already started adding top Layer 1 tokens and blue chip DeFi tokens to his portfolio using his largest cash reserve in years, held throughout most of 2026. Some of those DeFi protocols are currently trading 70% to 80% below their highs, and he's targeting names showing relative strength against the broader market.