Analyst and Trader Kevin Svenson, Bitcoin $97,145.34He said he has given rise signals based on the weekly RSI indicator. According to Svenson, in the past, this indicator was broken, there were striking increases in prices. The analyst predicts that in case of a new break, Bitcoin can rise up to $ 134,000.
Weekly RSI Break and Historical Performance
One of the important indicators in technical analysis, the weekly RSI is an effective tool to indicate over -purchase and sale zones. Kevin Svenson, Youtube said in a statement, this indicator’s past breaks in Bitcoin’de long -term price increases stressed that the ground.
Svenson recalled that Bitcoin gained value ranging from 73 %to 100 %in every period when the RSI indicator was broken in the process from December 2022 to September 2024. In particular, 100 %increases in January 2024 and September 2024 were remarkable. This indicates that the RSI break is a reliable indicator in the long term.
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Analyst said that such technical indicators offer an important roadmap for investors and that the weekly RSI break may be a harbinger of a strong rise trend in Bitcoin.
Possible price targets for Bitcoin
According to Svenson’s calculations, breaking the weekly RSI indicator can carry Bitcoin 39 %higher than the current level. In this case, the price is estimated to reach $ 134,000. This estimation is based on the monthly candle analysis of December and the parabolic trend formation.
Svenson said that this potential movement in Bitcoin’s technical structure could result in a parabolalic rise. However, he warned investors to carefully monitor market movements and follow the technical indicators closely.
Bitcoin is traded for $ 96.180 at the time of writing. While the importance of the RSI indicator in technical analysis is frequently emphasized, investors’ assessment of such signals may offer great opportunities.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
