By cryptoadmin 
Analyst and dealer Kevin Svenson is leaning bullish on Bitcoin (BTC) amid a rally of over 10% by the crypto king because the 2025 low reached earlier this month.
In a brand new technique session, Svenson tells his 82,800 YouTube subscribers that Bitcoin is wanting bullish after the Relative Power Index (RSI) indicator broke out of a downtrend on the crypto king’s weekly timeframe.
The RSI is a momentum oscillator used to find out oversold and overbought situations.
“Bitcoin has now seen yet one more weekly RSI breakout. This is among the most bullish indicators that we’ve seen over the previous, properly, without end truly. Each time Bitcoin will get one among these weekly RSI downtrend breakouts, we see humongous swings to the upside. These weekly RSI breakouts aren’t any joke.”
Supply: Kevin Svenson/X
In line with Svenson, Bitcoin may witness a bullish interval that might final into the third quarter of this 12 months if historical past repeats itself.
“And sometimes in the event you do a depend [of the weekly RSI breakouts in Bitcoin’s history], these runs final sometimes about 12 to 14 weeks… which lands us at someplace in July… or early August. So which means we’ve a number of months … finish of July. Which means the remainder of April, Could, June, July to see an uptrend type for Bitcoin.”
Supply: Kevin Svenson/X
The analyst says that over the quick time period, Bitcoin is more likely to commerce in a spread at roughly between $91,000 and $96,000 earlier than transferring increased.
“Bitcoin has made a bullish pivot, we’re above the downtrend line…
…we’ve made vital progress over the previous two days and there’s room for extra upside. We’re additionally sitting at a resistance so seemingly we get a variety of chop on this zone moderately than simply anticipating straight strains.”
Supply: Kevin Svenson/X
Bitcoin is buying and selling at $93,837 at time of writing.
Generated Picture: Midjourney