Bitcoin’s Bullish Momentum Supported by RSI Breakout
- Bitcoin has rallied over 10% since its recent low earlier this month.
- The Relative Strength Index (RSI) on Bitcoin’s weekly chart broke out of a downtrend, signaling bullish momentum.
- Historically, weekly RSI breakouts in Bitcoin lead to significant upward price movements.
- Kevin Svenson predicts this bullish period could last 12 to 14 weeks, potentially extending into July or early August.
- Bitcoin is currently trading between $91,000 and $96,000, with potential for further gains.
Bitcoin’s recent rally and RSI breakout suggest a bullish outlook according to analyst Kevin Svenson. The cryptocurrency is trading around $93,837 and may continue rising if historical patterns hold true.
Source (2.6)https://dailyhodl.com/2025/04/24/bitcoin-indicator-flashing-one-of-the-most-bullish-signals-says-analyst-kevin-svenson-heres-his-outlook/?rand=59076
