The weekly RSI has only fallen below 30 on three occasions in BTC’s history, with the most recent being Q1 2026. However, the RSI is now back into the normal zone, and it has broken above a descending trendline that touches lower highs. According to the analyst, this scenario means that the probabilities are now very slim for new lows of any kind.
The Bottom Signals Have Stacked UpLooking at the chart Sykodelic shared, the weekly price structure shows BTC breaking out of a descending trendline above $70,000, a pattern visible across both the price candles and the RSI panel below. Previous breakouts in 2022, 2023, and early 2025 were characterized by a similar RSI breakout of a descending trendline.
All of this contributes to a market environment where downside continuation becomes harder to sustain. Despite his conviction, Sykodelic stopped short of declaring an unconditional all-clear. The most important thing now is seeing how BTC closes the week. At the time of writing, Bitcoin is trading at $75,818, up by 1.4% in the past 24 hours.
