Bitcoin Poised for Breakout as RSI Indicator Signals Bullish Trend
- Bitcoin is trading at $96,180.
- Analyst Kevin Svenson highlights the Relative Strength Index (RSI) as a key indicator.
- The RSI on the weekly timeframe suggests potential significant price breakouts.
- Past RSI breakouts led to price increases of 95%, 80%, and 73% in previous months.
- Svenson predicts a possible Bitcoin rise of up to 39% if another breakout occurs, potentially reaching $134,000.
Kevin Svenson points to the weekly RSI indicator suggesting Bitcoin could rise significantly, with past breakouts leading to substantial price increases. Currently trading at $96,180, Bitcoin may reach $134,000 if a new breakout occurs.
Source (2.6)https://dailyhodl.com/2025/02/14/bitcoin-close-to-breakout-as-one-reliable-signal-turns-bullish-says-trader-here-are-his-targets/?rand=59076
