As an analyst, I’m observing that Bitcoin (BTC) seems primed for a significant move forward. A crucial leading indicator has climbed to its peak levels since early January, suggesting potential bullish momentum ahead.
As an analyst, I’m observing that data from both CryptoMoon Markets Pro and TradingView indicates a potential increase in Bitcoin prices, as suggested by the Relative Strength Index (RSI).
Bitcoin RSI breakout has days to “full confirmation”
In simpler terms, the typical start of a Bitcoin surge is often indicated by certain RSI (Relative Strength Index) signs, and at this moment, on a day-to-day basis, we see circumstances that could trigger a standard Bitcoin price recovery.
Over the last month, as the value of Bitcoin (BTC) to U.S. Dollar (USD) hit new lows, the Relative Strength Index (RSI) started moving upwards, forming higher bottoms. This suggests an emerging bullish trend where the RSI diverges from the downward price trend.
Lately, the RSI line on a daily basis has climbed above the 50-mark, then successfully held this level as resistance turned support, and subsequently hit fresh multi-month highs.
Among those monitoring the topic is popular trader and analyst Rekt Capital.
In his recent post, he noted that Bitcoin has once again confirmed ‘red’ as a level of support. Additionally, the Relative Strength Index (RSI) on the daily chart is still showing signs of a rising floor.
“Growing signs of a maturing Bullish Divergence here, with price just below the key Price Downtrend (blue).”
Rekt Capital also reported that RSI trends suggested a long-term BTC price floor at around $70,000.
Similarly to Kevin Svenson’s findings this week, he noticed intriguing signs on the Weekly Relative Strength Index (RSI).
This week, Kevin Svenson discovered comparable optimistic indicators on the Weekly RSI, much like what I found.
He shared with his X followers that once validated, the weekly Relative Strength Index (RSI) breakout signals are often found to be some of the most dependable indicators for identifying significant market trends.
“6 Days until full confirmation.”
According to CryptoMoon’s report, Bitcoin market watchers are closely examining another significant breakout point marked by a descending trendline that has been in effect since the record highs reached in January.
April BTC price performance far below median
In contrast to optimistic expectations, there’s a focus on the challenging macroeconomic situations that currently affect Bitcoin.
Or, simply put: Instead of expecting Bitcoin to do well, we’re looking at the difficult economic conditions it’s facing right now.
In simpler terms, despite the current US trade conflict and stock market downturn, there’s an unexpected surge in investment towards Bitcoin (BTC), as its price trends similarly to the stock market. Meanwhile, gold continues to hit new record prices.
According to Timothy Peterson’s recent prediction for April, there was minimal cause for optimism.
Presenting a graph illustrating the median annual trend of Bitcoin’s value against the US dollar, it was apparent that 2021 showed poor performance compared to previous years.
For this April, about half the days have been recorded above the blue line, while the other half has been below it. It’s clear that April is experiencing more days below the line.
“That is almost certainly not going to change, given the level of interest rates and other risk factors at work in the market and economy.”
From another point of view, April appears subdued for Bitcoin, but underlying positive trends are anticipated to emerge. These positive trends include an increasing global M2 money supply and a decrease in the strength of the U.S. Dollar Index (DXY).
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2025-04-15 13:57