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Bitcoin (BTC) has surged 14.6% over the past two weeks, rising from approximately $84,500 on April 18 to the mid-$90,000 range at the time of writing. With this upward momentum, the leading cryptocurrency appears to be setting its sights on a new all-time high (ATH), as several technical and momentum indicators hint at a growing bullish trend.
Bitcoin Monthly Stochastic RSI Turning Bullish
In a recent post on X, crypto analyst Titan of Crypto shared a BTC monthly chart indicating that the Stochastic Relative Strength Index (RSI) is on the verge of a bullish crossover.
For the uninitiated, a Stochastic RSI bullish crossover signals growing upward momentum and is often interpreted as a potential buy signal or the start of a potential rally. Titan of Crypto added that if confirmed, the bullish crossover may initiate BTC’s next leg up.
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As an example, the analyst referred to BTC’s price action on the monthly chart from back in Q3 2021. At the time, a similar bullish crossover in the Stochastic RSI preceded a 56.9% surge in Bitcoin’s price.
However, Bitcoin must hold above crucial support levels to maintain this bullish structure. In a separate X post, renowned analyst Ali Martinez noted that BTC could re-test the $95,700 support zone before advancing toward the $100,000 milestone.
On the resistance side, Martinez emphasized that $97,530 remains a “key level to watch.” A Click Here to Read the Full Original Article at NewsBTC…
