Bitcoin is technically expected to hit $233,000, which could happen as early as the first quarter of 2025.
In a new BTC price prediction, X analytics account Bitcoindata21 used the Relative Strength Index (RSI) to predict six figures for BTC/USD.
BTC Price Analysis: RSI peaks above $233,000.
Bitcoin (BTC) price action is currently consolidating around $65,000, but there is potential for a revolution in the market in the coming months.
Applying the standard deviation to the monthly RSI, Bitcoindata21 suggests that the peak of the current bull market could be around $250,000.
This can be done by referencing the historical highs of the monthly RSI readings, which correspond to the highs of BTC/USD.
“The monthly RSI trend channel peaks at approximately 88.6 in Q1 2025,” it said.
“If you expect it to not be right, then you believe this time is different.”
BTC/USD 1-week chart with monthly RSI. Source: Bitcoindata21/X
These short deadlines are in themselves unusual. According to predictions, Bitcoin’s previous bull market saw a sharp rise towards a macro peak.
“After a long period of consolidation, there is a lot of apathy and distrust in the market now. Perfect time for higher prices than the hive mind believes,” said another X post.
“Last cycle the price rose from 10,000 to 67,000 in 7 months, largely driven by Grayscale’s purchase of 400,000 Bitcoin. Now we have trillions of trading dollars waiting to happen after price discovery and after we realize it is not a triple top.”
BTC/USD 2-week chart. Source: Bitcoindata21/X
Bitcoindata21 added that there were “more confluences” as Bitcoin reached the $250,000 area which would later be uploaded to X.
Bitcoin RSI “has a lot of room to grow”
As Cointelegraph reports, those looking for a BTC price breakout often use RSI as a forward-looking indicator.
relevant: BTC price target expected to be $135,000 in 2025 — if Bitcoin bulls avoid a 25% decline
On lower time frames, the daily RSI was around 62.7 on Oct. 15, above the key 50 midpoint but still “overbought” at 70, according to data from Cointelegraph Markets Pro and TradingView. did not exceed .
Trader Mags supported the idea that the monthly RSI could not only exceed 70 but also reach extreme levels.
“Each bullish cycle Bitcoin peaks when the monthly RSI enters extremely overbought territory (above 90),” he confirmed to his X followers.
“We haven’t seen that happen yet in this cycle. There is still a lot of room for growth in monthly RSI, and if history repeats itself, the next steps could be spectacular.”
BTC/USD chart with RSI data. Source: Mags/X
This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.