After a fairly optimistic start to the new year, the Bitcoin price might finally be ready to take off, as revealed by a market analyst. The pundit believes that the flagship cryptocurrency can reclaim its six-figure valuation over the next few weeks, particularly as a key technical indicator has turned bullish.
Why BTC Price Could Be Headed For $105,000 In Three Weeks
In a January 9 post on the social media platform X, pseudonymous crypto pundit Bitbull shared a positive outlook for the Bitcoin price in the coming weeks. According to the crypto analyst, the world’s largest cryptocurrency by market capitalization could return to around $103,000 and $105,000 in the next three to four weeks.
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This optimistic prediction is based on changes in the Relative Strength Index (RSI) on the Bitcoin weekly chart. The relative strength index is a momentum indicator used in technical analysis to assess the magnitude and speed of an asset’s price changes.
The RSI oscillator typically analyzes whether a crypto asset (Bitcoin, in this case) is being overbought or oversold, suggesting a possible price or trend reversal. When the relative strength index rises above 70, it usually suggests an overbought market condition, with the asset’s price likely to witness a bearish reversal. On the other hand, an RSI value below the 30 mark means that the market is oversold, with the price potentially reaching a bottom.
BitBull revealed that the Bitcoin weekly RSI has been in an extended decline in the past three months and has only just broken above the downward trend line. According to the market pundit, the technical indicator is signaling further upside for the Bitcoin price.
As observed in the chart above, the price of Bitcoin went on a significant rally the last time the weekly RSI broke out of a downward trend. This breakout last occurred in April 2025, preceding BTC’s rally to its current all-time high of $126,080, representing an almost 50% surge.
This time around, BitBull expects the Bitcoin price to rise to between $103,000 and $105,000 in the course of the next three to four weeks. Hitting this target would represent an approximately 15% rally from the current price point.
Bitcoin Price Overview
As of this writing, the price of BTC sits around $90,600, reflecting an almost 1% decline in the past 24 hours. While the premier cryptocurrency made a strong start to the year, the market has since cooled down.
The Bitcoin price has been mostly hovering around the $90,000 mark, with only a few runs above $91,000 in the past week. According to data from TradingView, the BTC price is up by 3% so far in 2026.
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Featured image from iStock, chart from TradingView
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