Bitcoin’s Journey Towards New Heights: An In-Depth Analysis
As Bitcoin (BTC) navigates the price corridor between $100,000 and $110,000, market analysts are observing a promising trend. The weekly Relative Strength Index (RSI) for Bitcoin is climbing towards its upper trendline, sparking optimism about an imminent bullish breakout and the possibility of setting a new all-time high in the near future.
Exploring Bitcoin’s RSI and Its Implications
In a recent analysis shared on X, the seasoned crypto expert known as Titan of Crypto expressed confidence in Bitcoin’s potential for growth, stating that it “still has fuel in the tank.” The analyst provided a BTC weekly chart, emphasizing Bitcoin’s robust market structure, characterized by a pattern of higher highs and higher lows.
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According to Titan of Crypto, Bitcoin’s weekly RSI is nearing its upper trendline after a bounce from the lower end in April 2025. Historical data suggests that BTC’s price has often reached peaks when the weekly RSI touches this upper threshold.
For those unfamiliar, the RSI is a momentum indicator that assesses the velocity and extent of price changes in an asset. The RSI scale ranges from 0 to 100, where a reading above 70 typically signals overbought conditions, and a reading below 30 indicates oversold conditions.
Should Bitcoin follow its historical trends by surging alongside a rising weekly RSI, it might be poised to surpass its previous ATH and reach approximately $140,000. Currently, BTC is trading about 4.7% below its latest ATH of $111,814, recorded on May 22.
Analyzing Bitcoin’s Monthly Bullish Prospects
Renowned analysts are also highlighting potential upward movements for the world’s most valuable cryptocurrency by market capitalization. For instance, the analyst Rekt Capital discussed a BTC monthly chart, indicating that Bitcoin has “fully confirmed” a breakout from its monthly range. Rekt Capital added that increased buy-side volume is essential to sustain this trend, though further retesting of the blue Range High might occur to secure additional buy-side liquidity, thus fueling the next uptrend.
Likewise, analyst Jelle pointed to a bullish setup on Bitcoin’s chart, noting the presence of a bullish engulfing candle and a possible breakout from a symmetrical triangle structure. They also remarked on the potential benefits of a negative funding rate for BTC.
For newcomers, a negative funding rate implies that short traders are paying long traders, reflecting bearish market sentiment. This scenario can be advantageous for Bitcoin, as it increases the likelihood of a short squeeze and a potential price rebound.
Despite these optimistic prospects, investors should remain vigilant for signs of bull market fatigue, which could trigger a short-term pullback. Currently, BTC is trading at $106,665, marking a 1% decline over the past day.
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