Bitcoin (BTC) tested $ 85,000 as we approached the weekly closing on 23 March. Market analysts point out that a new wave of ascension may begin in the coming weeks.

RSI Break is approaching: Bitcoin gains strength

According to TradingView data, Bitcoin performed a strong performance during the weekend and triggered a recovery in the general crypto market. BTC, which rose by 1.5 %on a daily basis, moved upwards with large subcoins.

Popular crypto analyst Daan Crypto Trades said the market is at a critical level that can determine its direction in the coming weeks. In particular, the Analyst pointed out the closing level of CME Group Bitcoin futures, stressed that the next week can determine the general aspect of the market.

Similarly, the analyst rect Capital said that the relative power index (RSI) in Bitcoin’s daily graph is preparing to perform a significant break. He said that RSI has been trying to support the ongoing fall trend since November 2024.

Does the 6 -month rally expectation end?

Analyst Matthew Hyland said Bitcoin was about to create an important bull decomposition during the weekly time period. Hyland, “Bitcoin, for the first time since September for the first weekly bull decomposition to make a bull decomposition,” he attracted the attention of investors to this technical signal.

This signal indicates that Bitcoin may come out of the $ 80,000-85,000 in which he has been stuck for a long time. This positive decomposition in the weekly RSI shows that the price can gain a strong momentum in the coming weeks.

Will Bitcoin return to the bull market in the short term?

On the other hand, the crypto analysis group Stockmoney Lizards stressed that Bitcoin’s long -term bull market is still based on solid foundations. Stating that the 76,000 dollar level is the local footplace, analysts said that the testing of this level confirmed the rise trend.

Many people in the market panic and think that the bear market has been entered. However, our long -term trend channel stands intact. This correction does not disrupt the rise trend, on the contrary, it confirms it.

The Stockmoney Lizards team said that Bitcoin’s rise may not be immediately realized, but when the historical data is examined, the market may be in a bottom -creating process.

This movement may not immediately create a big leap. However, historically viewed, it is seen that we are approaching the bottom region. How long will this process take? Nobody knows for sure. However, a clear direction can be determined within a few weeks.