One Indicator Could Soon Signal New Bitcoin Breakout, According to Crypto Analyst
A closely followed crypto analyst says that Bitcoin (BTC) may suddenly turn bullish based on one key indicator.
In a new post, crypto trader Rekt Capital tells his 542,500 followers on the social media platform X that the Relative Strength Index (RSI) – a momentum indicator used to indicate overbought or oversold levels – may soon break out of a downtrend, signaling bullishness for Bitcoin.
“Going forward, it will be worth watching this daily RSI downtrend for a breakout in the future. This downtrend has been a resistance on the RSI since November 2024. An RSI downtrend break would likely precede a trend reversal to the upside in price.”
In a strategy session, the analyst tells his 107,000…
