Bitcoin Just Days Away From Confirming Major Bullish Breakout, Says Crypto Analyst

A popular crypto strategist says Bitcoin (BTC) is on the verge of confirming a macro-level bullish signal that could trigger the next leg of the ongoing rally.

Crypto analyst Kevin Svenson says that weekly Relative Strength Index (RSI) — a widely used momentum indicator — is on the brink of breaking through a long-standing resistance trendline dating back to January.

Bitcoin || Weekly RSI Breakouts

Once confirmed, weekly RSI breakout signals have proven to be among the most reliable macro breakout indicators.

Daily Chart Already Signals Strength

While the weekly breakout is still a few days from confirmation, Svenson adds that BTC has already broken out on the daily timeframe, providing a leading indicator of bullish strength.

“Bitcoin attempting to break out,” he noted, referencing the daily charts recent break above its descending resistance.

Why RSI Breakouts Matter

The Relative Strength Index (RSI) measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the market. A breakout above a long-term RSI trendline can suggest that bearish momentum has waned and that a major reversal may be underway.

If Bitcoins RSI confirms the breakout by the weekly candle close, many traders will likely interpret it as a green light for renewed upside momentum — potentially driving BTC back toward its all-time high near $90,000.

Kosta Gushterov

Reporter at Coindoo

Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.