Trader Identifies Bullish Signal for Potential 50% Bitcoin Surge

The stochastic RSI indicator for Bitcoin has formed a “bullish cross,” historically followed by an average price increase of 50%. This observation was made by Merlijn Enkelaer, founder of Profitz Academy.

HISTORY DOESN’T LIE: BITCOIN IS ABOUT TO SEND!

The Stoch RSI bullish cross just flashed!
Every time this happens, $BTC pumps an average of 56%!

$120K IS JUST THE START! pic.twitter.com/jJzHnNmzah

— Merlijn The Trader (@MerlijnTrader) March 17, 2025

“$120,000 is just the beginning,” he optimistically declared.

The classic StochRSI indicator signals overbought (values above 80) or oversold (below 20) conditions for an asset, as in this case.

The %K line (blue), representing the number of RSI transitions in the stochastic calculation, crossing above the %D signal curve (orange), indicates a strengthening upward momentum.

If the pattern follows previous instances, the expert predicts prices could reach $130,000 by June.

A number of Wall Street analysts have also suggested a rise in Bitcoin during the second quarter following a period of price weakness in March. Their forecast is based on the correlation of the digital gold’s price with the global M2 money supply aggregator and the dollar index.

Some analysts, including former BitMEX CEO Arthur Hayes, have speculated that Bitcoin might drop to $70,000 before continuing its bull run.

Experts at Matrixport predicted the end of the correction for the leading cryptocurrency in March-April. Specialists at Glassnode suggested that the asset’s redistribution phase could be prolonged.

Earlier, a researcher known as MarktQuant used a Monte Carlo simulation model for Bitcoin to forecast a price increase to $258,445 by September.