After hitting a low of nearly $76,000 on March 10, Bitcoin (BTC) has finally broken its daily Relative Strength Index (RSI) downtrend, now trading in the high $80,000s at the time of writing. However, crypto analyst Ali Martinez warns that strong resistance may lie ahead.<\/p>\n
In a recent X post<\/a>, crypto analyst Rekt Capital highlighted that BTC has broken through a multi-month RSI downtrend. The analyst shared a Bitcoin daily chart, showing how the leading cryptocurrency\u2019s RSI has broken free from a prolonged downtrend that began at the start of the year.<\/p>\n For the uninitiated, the RSI is a momentum indicator that suggests when the underlying asset \u2013 in this case, BTC \u2013 may be overbought or oversold. A rising RSI after sustained downtrend can indicate growing bullish momentum and a possible trend reversal.<\/p>\n Fellow crypto analyst Merlijn The Trader echoed Rekt Capital\u2019s analysis, stating that the RSI breakout confirms bullish momentum<\/a> and could pave the way for a significant price rally.<\/p>\n Another key indicator turned bullish this week \u2013 the Bitcoin Hash Ribbons. In an X post, crypto analyst Robert Mercer noted:<\/p>\n One of the most accurate mid-term indicator is bullish now. Expecting BTC to go back above $100,000 in Q2 of 2025!<\/p>\n To explain, the Hash Ribbons indicator turning bullish signals that Bitcoin miners \u2013 after a period of capitulation \u2013 are returning to the network, suggesting mining recovery and reduced selling pressure. This often marks a strong buy signal, and has historically aligned with the end of bear markets and the start of new uptrends.<\/p>\n Despite BTC\u2019s more than 15% surge from its March 10 low, seasoned analyst Ali Martinez cautions that the top digital asset is likely to encounter strong resistance around the $89,000 level. Martinez explained:<\/p>\n Bitcoin $BTC faces a key resistance cluster at $89,000, where the 50-day moving average and the descending trendline from the all-time high converge.<\/p>\n That said, several positive macroeconomic factors could support<\/a> BTC\u2019s bullish momentum. In a recent analysis, crypto analyst The M2 Guy emphasized that the expanding M2 money supply is likely to benefit risk-on assets like BTC.<\/p>\nAnalyst Warns Of Stiff Resistance Ahead<\/h2>\n