Bitcoin RSI Turns Bullish, Trader Eyes 105,000 Dollar Price Target A key technical indicator for Bitcoin has turned positive across multiple timeframes, fueling fresh optimism among analysts. The Relative Strength Index, or RSI, recently flashed bullish signals that some interpret as the precursor to a significant price surge. The RSI is a momentum oscillator that measures the speed and change of price movements, indicating whether an asset is overbought or oversold. After a period of consolidation and correction, Bitcoin’s RSI has now reset and begun to climb from levels considered oversold on its weekly chart. This shift is viewed by market participants as a healthy reset that often precedes the next leg up in a bull market. More notably, the RSI on Bitcoin’s daily chart has broken out of a prolonged downtrend, confirming a shift in short-term momentum. This alignment of bullish RSI readings across different timeframes is a relatively rare occurrence that typically signals strong underlying strength and a high probability of continued upward movement. Citing these technical developments, one prominent trader has publicly outlined a scenario where Bitcoin could reach a price target of 105,000 dollars. The analysis suggests that based on the current RSI breakout and historical patterns following similar setups, Bitcoin could achieve this level within a matter of three to four weeks. This bullish outlook is not based on the RSI alone. Other positive signals are reportedly multiplying in the market. On-chain data shows a decrease in the amount of Bitcoin held on exchanges, suggesting investors are moving their holdings into long-term storage, which reduces immediate selling pressure. Additionally, the network’s hash rate remains near all-time highs, indicating robust underlying security and miner commitment despite recent price volatility. The overall sentiment is that Bitcoin has weathered a corrective phase and is now poised to resume its primary bullish trend. The convergence of a bullish RSI reset, strong on-chain fundamentals, and positive market structure is creating a compelling case for higher prices. While the 105,000 dollar target is ambitious, it falls within the trajectory many analysts predicted for this cycle following the halving event. Traders will be watching to see if Bitcoin can maintain its momentum and hold key support levels on its way up. A decisive break above recent resistance zones would likely add further credibility to the bullish thesis and could trigger a wave of renewed institutional and retail interest. As always in cryptocurrency markets, volatility is expected, but the current technical picture appears to be tilting in favor of the bulls for the first time in several weeks.
