Analyst Sets $105K As Next Bitcoin Price Target — Here’s The Timeline

Overview

A market analyst has provided an optimistic outlook for Bitcoin, suggesting that the cryptocurrency could reach a six-figure valuation within the next few weeks. This assessment is based on a key technical indicator that has recently turned bullish, signaling potential upward movement for the asset.

Analysis of the Situation

On January 9, a pseudonymous crypto analyst known as Bitbull shared insights on the social media platform X, indicating that Bitcoin could reclaim a price range between $103,000 and $105,000 in the upcoming three to four weeks. This prediction hinges on changes observed in the Relative Strength Index (RSI) on Bitcoin’s weekly chart, a momentum indicator widely used in technical analysis.

The RSI is instrumental in evaluating the speed and magnitude of price changes for assets. It assesses whether an asset is overbought or oversold, which can hint at possible price reversals. Typically, an RSI reading above 70 indicates overbought conditions, suggesting a potential bearish reversal, while an RSI below 30 indicates oversold conditions, potentially signaling a price bottom.

Bitbull noted that the Bitcoin weekly RSI has experienced a prolonged decline over the past three months but has recently broken above its downward trend line. This breakout is perceived as a bullish signal for Bitcoin’s price trajectory. Historical data reveals that a similar breakout occurred in April 2025, which preceded a significant rally that propelled Bitcoin to its then all-time high.

Despite the positive sentiment expressed by Bitbull, the current state of Bitcoin shows some volatility. As of the latest updates, Bitcoin’s price is around $90,600, reflecting a slight decline of nearly 1% over the past 24 hours. While the cryptocurrency began the year on a strong note, market activity has since cooled, with Bitcoin predominantly fluctuating around the $90,000 mark.

From author

The analysis shared by Bitbull highlights the importance of technical indicators in predicting market movements. The RSI’s shift from a declining trend to a bullish breakout could serve as a crucial point for traders and investors watching Bitcoin’s performance. However, it is essential to remain cautious, as market dynamics can change rapidly, and predictions based solely on technical analysis may not always hold true.

Impact on the crypto market

• A bullish RSI breakout could lead to increased investor confidence in Bitcoin, potentially attracting new buyers.
• A price movement towards the $103,000 to $105,000 range might trigger further buying momentum, influencing other cryptocurrencies and the broader market.
• The market’s reaction to the RSI changes could set a precedent for how technical analysis is utilized in future trading strategies.
• Continued fluctuations around the $90,000 mark may suggest a consolidation phase before any significant price movement occurs.
• Observers will likely monitor the RSI closely in the coming weeks for further indicators of market direction.