Renowned analyst and trader KEVIN SVENSON has expressed a bullish outlook on Bitcoin (BTC) following a significant rally of over 10% since its 2025 low earlier this month. In a recent strategy session, SVENSON highlighted key technical indicators that suggest a potential upward trajectory for the cryptocurrency.
SVENSON, who boasts 82,800 YouTube subscribers, pointed to the Relative Strength Index (RSI) breakout on Bitcoin’s weekly chart as a strong bullish signal. The RSI, a momentum oscillator used to identify overbought or oversold conditions, has historically preceded substantial price surges for Bitcoin.
“Bitcoin has now seen yet another weekly RSI breakout. This is one of the most bullish signals we’ve seen over the past, well, forever actually. Every time Bitcoin gets one of these weekly RSI downtrend breakouts, we see humongous swings to the upside. These weekly RSI breakouts are no joke,” SVENSON explained.
According to SVENSON, if historical patterns repeat, Bitcoin could experience a bullish phase extending into the third quarter of this year. “Typically, if you do a count of the weekly RSI breakouts in Bitcoin’s history, these runs last about 12 to 14 weeks… which lands us somewhere in July or early August. That means we have multiple months—April, May, June, and July—to see an uptrend form for Bitcoin,” he added.
In the short term, SVENSON predicts Bitcoin will consolidate within a range of $91,000 to $96,000 before making further upward moves. “Bitcoin has made a bullish pivot; we are above the downtrend line. We’ve made significant progress over the past two days, and there is room for more upside. However, we’re also sitting at a resistance level, so we’re likely to see choppy trading in this zone rather than a straight upward line,” he noted.
At the time of writing, Bitcoin is trading at $93,837, reflecting the ongoing market optimism.
Sources: KEVIN SVENSON/X, YouTube