Bitcoin to 181,294 dollars? Here is the reason for the RSI proposal, which is waving on the horizon

Bitcoin may rise to a bullish rise to the highest level ever to a new peak price if it is separated from its weekly resistance at the RSI conference.

The leading cryptocurrency has been dramatically recovered over the past 24 hours, and recovered 97,000 dollars for the first time in three days. It follows the bounce of the need for increasing speculation that China will raise it Ban On Bitcoin and encrypted currencies.

Hofan Ho, CEO of the Chinese company Red Technology, said, CNBC Yesterday, the chances of China will exceed digital assets exceeded 50 %. It is worth noting that the pressure from the prosperous Hong Kong encryption market nourishes the rumors re -evaluation.

Meanwhile, amid the growing market momentum, the most prominent catalyst for further bullish direction. On February 19 mailThe prominent market observer expected Kevin Svinson an increase in bitcoin prices, pointing to historical reactions to the outbreak of the RSI.

Bitcoin Re -Test the weekly RSI resistance

Svenson shed light on the emerging trend after the last Bitcoin recovery. His comment on Wednesday highlights that RSI in Bitcoin re -testing his weekly resistance. For perspective, the RSI index measures the volume of asset prices, indicating excessive areas of the peak.

The analyst emphasized the importance of this trend, noting that the successful collapse of the resistance restores bitcoin in the long run. He highlighted that the Bitcoin RSI re -testing the supply line, and that a successful collapse would push the first origin to its highest level.

The accompanying graph also explains the hypothesis of this upscale proposal. The price of Bitcoin has increased historically on a large scale when its relative strength index is separated on the weekly timetable.

For context, Bitcoin 95 % gathered after the outbreak of RSI in December 2022 on the upper timeline, where 80 % of the upward trend was published with a similar trend in October 2023. Moreover, a prominent encryption reaction again to the resistance breach in January and September last year, and the rise. 73 % and 100 %, respectively.

Meanwhile, the average height with the last four RSI declines represents 87 % of the bitcoin price. Suppose that the resistance and asset level breaks spread the average price, Bitcoin will ever exceed 181,294 dollars.

Price analysis

The analysis shows that the RSI in Bitcoin is 61.70, indicating the upscale momentum and a space for more bullish direction, as it is still heading down to the bottom area of ​​the purchase. However, the indicator is not the only sects to raise the price of bitcoin.

The analysis on the chain shows increasing feelings between market participants, especially in stock exchanges. Data He appears The imbalance in the size of the bidding bids turned 0.86 %, as trading activities are increasing towards increasing Bitcoin instead of pressing low prices.

However, trading volumes decreased during the past 24 hours, a decrease of 23 % to 28.83 billion dollars. Other indicators, such as large transactions and focus, remain neutral, and send mixed signals.

Meanwhile, Bitcoin is trading at $ 97,180, an increase of 1.27 % over the past 24 hours.