Bitcoin Weekly RSI Creates a Price Target of $85,000
Currently holding at $62,000, Bitcoin is expected to continue its strong rally, with the first target at $85,000.
The Crypto Titan, based on the weekly relative strength index (RSI) chart, believes that momentum is increasing, helping the market reach new highs.
“The medium-term target is $85,000. The weekly RSI shows a strong breakout before the end of the year,” he summarized.
The RSI is an indicator that helps identify local tops and bottoms, providing information on trend strength. The RSI has now crossed the important 50/100 level, breaking the downtrend that has been in place since March.
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The Crypto Titan added that if September ends on a positive note, the trend will continue into Q4.
