Bitcoin’s Potential Bullish Trend Based on RSI Indicator
- Bitcoin is trading at $98,797.
- Analyst Kevin Svenson highlights the weekly Relative Strength Index (RSI) as a bullish indicator for Bitcoin.
- The RSI is a momentum indicator ranging from 0 to 100, identifying overbought or oversold levels.
- Svenson predicts a potential Bitcoin rally of up to 36% if the RSI breaks above its resistance line.
- The target range for Bitcoin’s price is between $124,000 and $134,000 following this trend.
Kevin Svenson suggests that a breakout in Bitcoin’s weekly RSI could lead to a significant price increase, with targets set between $124,000 and $134,000.
Source (2.6)https://dailyhodl.com/2025/02/22/one-of-the-most-reliable-indicators-for-bitcoin-flashing-bullish-signal-says-trader-here-are-his-targets/?rand=59076
