According to U.Today, Bitcoin (BTC) appears to be gearing up for another significant rally. Despite rebounding from the previous crypto crash, analysts are forecasting further gains for the cryptocurrency. Crypto analyst Ali Martinez has predicted a major breakout for Bitcoin, noting that BTC has been showing signs of this potential surge. Martinez tweeted that Bitcoin is now heading toward the $67,000 target. From a technical standpoint, he explained that the Relative Strength Index (RSI) of Bitcoin has broken the descending trendline. This indicates that Bitcoin's price needs to surpass the $66,450 level to confirm the start of this bullish breakout. The chart shared by Martinez shows that the RSI has crossed the 50 level, suggesting that BTC is ready to initiate an upward movement.

As of the time of writing, Bitcoin is trading at $66,537.83, after a slight decrease of 0.18% in the last 24 hours. This means that BTC has managed to clear the $66,450 price level. According to Ali Martinez, a Bitcoin price breakout is likely imminent. Bulls appear to be supporting this move, keeping bears at bay. Meanwhile, more signals are emerging regarding this potential rally. Per TradingView, Bitcoin's price is currently trading above its 200-day Exponential Moving Average (EMA) and Simple Moving Average (SMA). These levels provide a clear overview of Bitcoin's broader potential. Trading above these levels indicates a bullish outlook for Bitcoin. Coupled with the rising RSI, it is highly likely that Bitcoin may head toward the $67,000 target. If it achieves this, BTC may then aim for the $69,000 resistance level and potentially higher levels.