The post BTC Price – Why This Analyst Doesn’t Think Bitcoin Top Is In appeared on BitcoinEthereumNews.com.

BTC price is showing signs of a bottoming formation with technical indicators suggesting a potential breakout to new all-time highs, according to crypto analyst Dan Gambardello. The analyst highlights patterns on Bitcoin’s weekly Relative Strength Index (RSI) that have historically preceded significant price movements. “Historically, when Bitcoin breaks out of this area, something big happens,” Gambardello explains, referring to current RSI levels on the weekly timeframe. Technical indicators and historical BTC price patterns Gambardello bases his analysis on several key technical indicators. He placed particular emphasis on Bitcoin’s weekly RSI momentum oscillator. The analyst identifies a potential breakout pattern forming that resembles a similar setup from July 2021. This preceded Bitcoin’s run to all-time highs later that year. “From a technical move, we’re in a very similar move to right here. This first top of the last bull market kind of coming below that 20-week support at the 50-week, this is what’s happening right now,” Gambardello explains, pointing to comparable chart patterns. Source: X The current daily chart shows BTC price forming lower lows in price while the momentum oscillator trends upward. This divergence between price action and momentum is similar to what occurred before the July 2021 breakout. On the weekly chart, Gambardello highlights a key resistance level on the RSI that, if broken, could signal a major move upward. An important distinction Gambardello makes between the 2021 top and current conditions relates to oscillator readings. He notes that the previous cycle showed bearish divergence with a lower high on the weekly RSI as prices reached all-time highs—a warning sign that was present before the subsequent bear market. The current setup lacks this warning signal. Looking at the daily timeframe, BTC price is currently at a clear resistance area, consolidating in a pattern that resembles the pre-breakout phase from…

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Filed under: News - @ April 12, 2025 11:17 pm