OPINION: Bitcoin's Weekly RSI Indicator Triggers Medium-Term $85,000 Bullish Targets
On September 23rd, traders predicted a 'year-end' breakout for Bitcoin, which continued to hold at $62,000 at the close of the week, following a sustained rally from September support levels. Now, optimistic Bitcoin price forecasts suggest that the market is leaning in a long direction. Cryptocurrency analyst Titan has $85,000 as his first target.
He uploaded a weekly chart of Bitcoin's Relative Strength Index (RSI), suggesting that momentum is building in the market, which will push the price to new all-time highs and beyond. Bitcoin $85,000: an intermediate-term target,” he concludes. “The weekly RSI breakout signal suggests that Bitcoin is poised for an explosive rally before the end of the year,” he said.
Titan of Crypto adds that if September ends on a positive note, the uptrend should continue throughout the fourth quarter.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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