Fun

Is Bitcoin Bull Run Back? Daily RSI Shows Only Mild Bullish Momentum

News Feed - 2025-05-18 08:05:31

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


The price of Bitcoin has been on quite the run since mid-April, finding its way from beneath the $85,000 mark to as high as $104,700 over the past month. The largest cryptocurrency market enjoyed a positive shift in investor sentiment and a fresh influx of capital, especially through the BTC exchange-traded funds (ETFs).


Interestingly, the premier cryptocurrency seems to be showing some signs of fatigue, especially after failing to break out of the $102,000 – $105,000 consolidation range over the past week. This sluggish round of price action has called into question the authenticity of the recent bullish impulse. BTC Still Missing Its Bullish Aggression: Crypto Expert


Chartered Market Technician (CMT) Tony Severino took to the X platform to share an interesting insight into the price action of Bitcoin over the last few weeks. According to the crypto expert, the price of BTC might be missing a classic technical behavior, often correlated with aggressive bullish impulses. Related Reading Ethereum Breaks Above Key Realized Price Zones—What It Means for ETH 1 day ago


The rationale behind this observation is the recent movement of the daily relative strength index (RSI) indicator on the Bitcoin price chart. The relative strength index is a momentum indicator used in technical price analysis to estimate the speed and magnitude of an asset’s price changes. The RSI oscillator is typically used to analyze whether a crypto asset is being overbought or oversold, signaling a potential trend/price reversal. An RSI reading of above 70 usually indicates an overbought market condition, while a relative strength index value below 30 signals an oversold condition. Source: @TonyTheBullCMT on X


According to Severino, Bitcoin bull runs historically coincide with a rapid surge of the RSI oscillator above the 70 threshold, reflecting overwhelming buying pressure in the market. This pattern is noticeable in the chart below, as highlighted during the October 2023 rally and the November 2024 post-election breakout.


However, Bitcoin’s current price action appears more cautious and less convincing. While the market leader has been recovering from its early-year blues, the relative strength index has yet to exhibit the clean upward break (above 70) typical of significant bullish expansions.


Severino did note that the Bitcoin bullish impulse—signaled by the RSI break above 70—could emerge at any moment. If the bullish strength does come, investors could see the price of BTC break out of the current consolidation range and toward its all-time high. Bitcoin Price Overview


As of this writing, BTC is valued at around $103,676, reflecting no significant price movements in the past 24 hours. The past day’s sluggishness underscores the premier cryptocurrency’s performance in the past week. According to data from CoinGecko, the Bitcoin price has increased by merely 0.8% in the last seven days. Related Reading Bitcoin Up $18,000, But HODLer Profits Same As On April 1—Here’s Why 21 hours ago The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView

News Feed

Ethereum supply surpasses 120M ETH as staking, restaking surge
Josh O"Sullivan12 hours agoEthereum supply surpasses 120M ETH as staking, restaking surgeDespite Ethereum’s inflationary trend, staking and restaking gains momentum, boosting network security and rewards.1365 Total vie
Stablecoin GUSD’s Supply Jumps Close to 130% Higher in 30 Days
Stablecoin GUSD"s Supply Jumps Close to 130% Higher in 30 Days While the stablecoin economy has seen fluctuations from specific stablecoin tokens either increasing the project
4 ‘Bitcoin Contenders’ With Zero Use Cases and Barely Any Infrastructure
4 "Bitcoin Contenders" With Zero Use Cases and Barely Any Infrastructure Cryptocurrency markets and the industry are extremely competitive and many users believe a single digital
Philippine Authorities Rescue Alleged Victims of ‘Crypto Trafficking Ring’
Philippine Authorities Rescue Alleged Victims of "Crypto Trafficking Ring" Philippine authorities say that they have rescued alleged victims of a “crypto trafficking ringR
UAE regulations may lead to crypto payment ban, warns lawyer
Ezra Reguerra13 hours agoUAE regulations may lead to crypto payment ban, warns lawyerUAE lawyer Irina Heaver told Cointelegraph that the policy shift could signal a “less favorable environment” for crypto in the UAE.
HECO Chain exploiter anonymizes $145M of Ether on Tornado Cash in 8 days
Arijit Sarkar13 hours agoHECO Chain exploiter anonymizes $145M of Ether on Tornado Cash in 8 daysIn its largest transaction, the HECO Chain exploiter sent 11,300 ETH worth roughly $39.5 million in one transfer.868 Total
Formula One Team Haas F1 to Mint Branded NFTs With Opensea
Formula One Team Haas F1 to Mint Branded NFTs With Opensea U.S.-licensed Formula One constructor Haas F1 Team has announced a collaboration with non-fungible token (NFT) marketplac
Crypto users could ‘make a difference in a close election’ in the US — CoinFlip CEO
Turner Wright5 hours agoCrypto users could ‘make a difference in a close election’ in the US — CoinFlip CEOU.S. presidential candidates have won or lost key states by as little as 11,000 votes, giving crypto users
Moledao Launches Pioneering Web 3.0 Hackathon on the Metaverse
Moledao Launches Pioneering Web 3.0 Hackathon on the Metaverse press release PRESS RELEASE. Moledao, a social platform for blockchain enthusiasts, announced today its upcoming Web 3
BCH Hash Watch: Majority of Miners Signal BCHN, Coinex Exchange Announces Futures
BCH Hash Watch: Majority of Miners Signal BCHN, Coinex Exchange Announces FuturesBitcoin Cash proponents have recently noticed that the last 612 blocks or more than 61% of the last
Chinese Tea Retailer Joins the Crypto Mining Industry After Hiring Two Roles to Lead Its ‘Bitcoin Business Plan’
Chinese Tea Retailer Joins the Crypto Mining Industry After Hiring Two Roles to Lead Its "Bitcoin Business Plan" A Chinese tea retailer is looking to make its in
Lawmakers to Resubmit Russia’s Crypto Mining Bill, Introduce Liability for ‘Gray’ Miners
Lawmakers to Resubmit Russia’s Crypto Mining Bill, Introduce Liability for ‘Gray’ Miners The draft law legalizing cryptocurrency mining will be resubmitted to Russian parliam