After hitting a low of nearly $76,000 on March 10, Bitcoin (BTC) has finally broken its daily Relative Strength Index (RSI) downtrend, now trading in the high $80,000s at the time of writing. However, crypto analyst Ali Martinez warns that strong resistance may lie ahead. Bitcoin Finally Breaks Daily RSI Downtrend In a recent X post, crypto analyst Rekt Capital highlighted that BTC has broken through a multi-month RSI downtrend. The analyst shared a Bitcoin daily chart, showing how the leading cryptocurrency’s RSI has broken free from a prolonged downtrend that began at the start of the year. For the uninitiated, the RSI is a momentum indicator that suggests when the underlying asset – in this case, BTC – may be overbought or oversold. A rising RSI after sustained downtrend can indicate growing bullish momentum and a possible trend reversal. Related Reading: Bitcoin Could Hit $112,000, But Only If It Holds Above This Key Level – Analyst Explains Fellow crypto analyst Merlijn The Trader echoed Rekt Capital’s analysis, stating that the RSI breakout confirms bullish momentum and could pave the way fo ..
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