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Bitcoin Ready to Take Off: Relative Strength Indicator Beckons with Strong Momentum for BTC

Fast Take
  • RSI indicator signals strong momentum for Bitcoin.
  • Bitcoin targets US$42.000 milestone, points out Glassnode.
  • Altcoins like Solana and Cosmos on investors' radar.
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The cryptocurrency landscape is about to witness significant momentum, with Bitcoin (BTC) gearing up for a remarkable rise. Henrik Zeberg, a respected macroeconomist and crypto strategist, shared with his more than 120 thousand followers on a well-known social media platform, a promising analysis on the leading crypto asset.

Zeberg highlights Bitcoin's weekly relative strength index (RSI), a technical indicator often monitored by traders to signal market trends. According to him, BTC’s RSI has entered a “strong momentum” zone, a phenomenon that has historically preceded significant increases in the currency’s value.

Zeberg's words resonate confidence: “BTC: Weekly RSI entered 'strong momentum'. The three times before entering this area, BTC rose sharply. This time will be no different! Bitcoin is going to soar!”

In contrast, market intelligence firm Glassnode, under the pseudonym Negentropic on X, sees strength in both BTC and Ethereum (ETH) despite recent pullbacks in crypto markets. Negentropic notes that BTC is targeting the $42.000 milestone, while identifying some altcoins worthy of attention, including Solana (SOL), Chainlink (LINK), and Cosmos (ATOM).

O cryptocurrency market, after reaching peaks of several months, faces a slight retreat. However, BTC and ETH remain resilient, with Bitcoin targeting a 30% jump since October, and Ethereum holding above $2.000. Altcoins such as Solana, Cosmos, Sei, Chainlink and ScapesMania are gaining attention in the market.

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With these analyzes in mind, investors appear to be on the cusp of a potentially transformative moment for Bitcoin and other cryptocurrencies. At the time of publication, the BTC price it was quoted at US$ 40.100,00, up 1,7% in the last 24 hours.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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