Bitcoin is poised to reach $233,000 — potentially as soon as Q1 2025.
In a recent price forecast, the analytics account Bitcoindata21 utilized the relative strength index (RSI) to project a six-figure figure for BTC/USD.
BTC Price Review: RSI Peak Indicates $233,000 or Higher
The current price of Bitcoin (BTC) is stabilizing around $65,000, but the coming months could transform the market.
By applying standard deviation to the monthly RSI, Bitcoindata21 estimates that the peak of the present bull market could reach about a quarter of a million dollars.
This analysis is grounded in historical monthly RSI highs, which are often associated with blow-off tops in BTC/USD pricing.
“The upper limit of the trend channel for the monthly RSI is approximately 88.6 in Q1 2025,” they stated.
“If you think this won’t happen, then you believe this time is different.”
BTC/USD Weekly Chart with Monthly RSI. Source: Bitcoindata21/X
A short timeline like this is not unusual — as highlighted in the prediction, previous Bitcoin bull markets have shown rapid increases toward macro peaks.
“There is considerable apathy and skepticism in the market now after an extended period of consolidation. It’s the perfect moment for prices to surge beyond what the crowd anticipates,” another post from X remarked.
“In the last cycle, the price surged from $10,000 to $67,000 in just seven months, notably driven by Grayscale’s acquisition of 400,000 bitcoin. Currently, we have trillions of traditional financial dollars poised to enter the market after price discovery, especially when they realize it’s not a triple top.”
BTC/USD Two-Week Chart. Source: Bitcoindata21/X
Bitcoindata21 mentioned that there is “more confluence” pointing towards Bitcoin arriving at the $250,000 range, details of which will be shared on X later.
Bitcoin RSI “Still Has Plenty of Room for Growth”
As reported by Cointelegraph, traders looking for BTC price surges often utilize RSI as a predictive tool.
Related: BTC price target of $135K projected for 2025 — contingent on Bitcoin bulls avoiding a 25% downturn
On shorter timeframes, the daily RSI was around 62.7 as of October 15, based on data from Cointelegraph Markets Pro and TradingView — sitting above the crucial 50 midline but not yet surpassing the “overbought” level of 70.
Trader Mags echoed the sentiment that the monthly RSI could exceed 70 and may even reach extreme levels.
“Historically, Bitcoin peaks during bull cycles when the monthly RSI hits the extreme overbought zone (above 90),” he informed his followers on X.
“We haven’t experienced that in this cycle as of yet. The monthly RSI has considerable room to expand, and if history is any guide, the next surge will be monumental.”
BTC/USD Chart with RSI Data. Source: Mags/X
This article does not provide investment advice or recommendations. Every investment and trading decision carries risk, and readers should perform their own research prior to making a decision.
