After an optimistic start to the new year, a prominent market analyst believes Bitcoin (BTC) is poised for a significant surge, potentially hitting a six-figure valuation in the coming weeks. This bold prediction hinges on a crucial technical indicator signaling a bullish breakout for the world's leading cryptocurrency.
Bitcoin's $105,000 Target: The RSI Signal
Pseudonymous crypto pundit Bitbull recently shared a highly optimistic outlook for Bitcoin's price, forecasting a rise to between $103,000 and $105,000 within the next three to four weeks. This projection is primarily based on the Bitcoin weekly Relative Strength Index (RSI), a momentum oscillator used in technical analysis to assess the magnitude of recent price changes. An RSI reading above 70 typically suggests an overbought condition, while a reading below 30 implies oversold conditions, often preceding a price or trend reversal. Bitbull's analysis highlights that Bitcoin's weekly RSI has endured an extended decline over the past three months but has now decisively broken above its downward trend line. Historically, such a breakout has been a precursor to substantial price appreciation. The most recent comparable event, occurring in April 2025, foreshadowed a remarkable nearly 50% surge that propelled BTC to what the analyst states as its then-current all-time high of $126,080. This historical parallel underpins the current bullish sentiment for the premier digital asset.
Current Market Snapshot and Outlook
As of the time of writing, Bitcoin's price hovers around $90,600, reflecting a minor decline of approximately 1% over the past 24 hours. Despite this recent cooling period, Bitcoin commenced 2026 with strong momentum and has maintained a year-to-date increase of 3%. The current technical signals suggest that this period of consolidation may soon give way to the anticipated upward movement towards the $105,000 target, representing an approximate 15% rally from its present valuation.
