Bitcoin Weekly RSI Breakout Signals Possible Trend Shift to $100,000

Bitcoin (BTC) is indicating a potential bullish reversal with its weekly RSI breaking a trendline, suggesting that it could reach new highs, potentially up to $130,000 or $140,575. However, some analysts warn of bearish patterns indicating possible declines, with macroeconomic pressures and a recent ‘death cross’ complicating the outlook.

After enduring weeks of declining prices, Bitcoin (BTC) is beginning to exhibit signs of a bullish reversal. A recent breakout in the weekly Relative Strength Index (RSI) has sparked optimism for a major price move, suggesting that BTC could be primed for a significant upward shift.

Bitcoin’s price has been impacted by global tariff conflicts, resulting in a decline of over 10% in the last three months. Nonetheless, it seems to have established stability within the low $80,000 range after falling to $74,508 on April 6.

Analyst Titan of Crypto recently indicated, via an X post, that BTC may be on the verge of a “major breakout.” They noted the weekly RSI has surpassed its long-term trendline, signalling potential shifts in market momentum.

The weekly RSI serves as a momentum indicator that assesses the pace and variation of Bitcoin’s price over a week. Values above 70 suggest overbought conditions, while those below 30 indicate oversold conditions, facilitating identification of trend reversals or continuations.

In Titan of Crypto’s shared chart, BTC’s weekly RSI has broken its downtrend for the third time since September 2024, following two previous instances of breakouts that were succeeded by notable price rallies.

Utilising a specific price fractal pattern, Titan of Crypto posits that if BTC behaves similarly following RSI breakouts, it could ascend to approximately $130,000, surpassing the existing all-time high and igniting renewed market enthusiasm.

Furthermore, analyst RookieXBT has indicated that BTC is currently situated within a falling wedge pattern on the 12-hour chart, which historically resolves in an upward direction. RookieXBT forecasted that a breakout could potentially elevate BTC to around $140,575.

Contrasting this bullish perspective, analyst Ali Martinez expressed skepticism, highlighting that BTC may be developing a rising wedge pattern, a bearish signal which could exert downward pressure. Should this scenario materialise, Martinez anticipates a decline back to the critical support level of $79,000.

Additionally, macroeconomic tensions, particularly ongoing tariff disputes, continue to affect risk assets, including Bitcoin. Recently, Bitcoin also formed a “death cross,” a bearish signal indicating that the 50-day moving average has fallen below the 200-day moving average, potentially foreshadowing further losses. Currently, BTC is trading at $85,577, reflecting a 1.9% increase in the last 24 hours.