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. Five days until full confirmation,” Svenson wrote in an April 14 post.
A breakout above the RSI downtrend on the weekly timeframe would mark a strong shift in momentum, historically correlating with significant BTC rallies. Svenson’s chart shows similar RSI breakouts in early 2023 and late 2023 that preceded sharp price increases.
#BITCOIN | Weekly RSI Breakouts
Once confirmed, weekly RSI breakout signals have proven to be among the most reliable macro breakout indicators.
6 Days until full confirmation 🚀📈 pic.twitter.com/90Kf7hA7KT
— Kevin Svenson (@KevinSvenson_) April 14, 2025
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 chart’s 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 Bitcoin’s 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.
The post Bitcoin Just Days Away From Confirming Major Bullish Breakout, Says Crypto Analyst appeared first on Coindoo.
