{"id":383405,"date":"2025-03-19T14:51:50","date_gmt":"2025-03-19T09:21:50","guid":{"rendered":"https:\/\/dripp.zone\/news\/one-indicator-could-soon-signal-new-bitcoin-breakout-according-to-crypto-analyst-crypto-news\/"},"modified":"2025-03-19T15:10:12","modified_gmt":"2025-03-19T09:40:12","slug":"one-indicator-could-soon-signal-new-bitcoin-breakout-according-to-crypto-analyst-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/one-indicator-could-soon-signal-new-bitcoin-breakout-according-to-crypto-analyst-crypto-news\/","title":{"rendered":"One Indicator Could Soon Signal New Bitcoin Breakout, According to Crypto Analyst – Crypto News"},"content":{"rendered":"

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A closely followed crypto analyst says that Bitcoin (BTC<\/a>) may suddenly turn bullish based on one key indicator.<\/p>\n

In a new post, crypto trader Rekt Capital tells<\/a> his 542,500 followers on the social media platform X that the Relative Strength Index (RSI) \u2013 a momentum indicator used to indicate overbought or oversold levels \u2013 may soon break out of a downtrend, signaling bullishness for Bitcoin.<\/p>\n

\u201cGoing forward, it will be worth watching this daily RSI downtrend for a breakout in the future. This downtrend has been a resistance on the RSI since November 2024. An RSI downtrend break would likely precede a trend reversal to the upside in price.\u201d<\/em><\/p>\n

Source: Rekt Capital\/X<\/figcaption><\/figure>\n

In a strategy session, the analyst tells<\/a> his 107,000 YouTube subscribers that the RSI has bounced off the oversold level in the 20s range, which historically has led to a price reversal for Bitcoin.<\/p>\n

\u201cWe\u2019ve dropped into a zone of overselling, so below the 30 RSI, that\u2019s typically where we see sellers get a little bit too enthusiastic. People are selling too much, and the sellers are slowly getting exhausted. They are overselling, which means that it\u2019s easier for buyers to step into the market and start buying up prices, and they don\u2019t even need to buy up on high volume. <\/em><\/p>\n

And it\u2019s already pressing prices up quite nicely towards the upside without much effort. And that\u2019s exactly what happens when sellers are exhausted. And we\u2019ve seen these oversold regions on quite a few occasions across this cycle. And each time we got here on that first crash, we were very close to a bottom, or we were at a bottom already, and we\u2019d see price reverse towards the upside.\u201d<\/em><\/p>\n

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Source: Rekt Capital\/YouTube<\/figcaption><\/figure>\n

The analyst also says<\/a> that Bitcoin\u2019s retracement from the all-time high is not out of the ordinary based on historical precedence.<\/p>\n

\u201cThis current pullback (-29%) is one of the deeper retraces in the cycle but it\u2019s not extraordinary. After all, we\u2019ve seen a deeper retrace in the immediate post-halving period (-32%). Not only that, but we\u2019ve seen deeper pullbacks in previous cycles. <\/em><\/p>\n

Major 2021 corrections: -31%, -55%, -25%. <\/em><\/p>\n

Major 2017 corrections: -34%, -34%, -38%, -40%, -29%.\u201d<\/em><\/p>\n

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Source: Rekt Capital\/X<\/figcaption><\/figure>\n

Bitcoin is trading for $83,112 at time of writing, flat on the day.<\/p>\n