Bitcoin's momentum downtrend since January is finally broken

As seen on the daily RSI, Bitcoin has been on a momentum downtrend since the beginning of this year when we've hit the JAN/21 ATH at $41825. Since then, the momentum downtrend has started, with increasingly lower highs and lows, and it was only inevitable that the raising wedge would break down, and as the bulls momentum faded out, the "gravity" of the bears would bring the prices down.

Yesterday we have finally broken out from this downtrend, a very promising indication the bulls are back to take control. This doesn't mean we won't see lower lows again, the RSI is just a momentum indicator and it might take a while for the price to climb up. Besides you see, how many months it took for the RSI momentum indicator to match the actual price action from January to May. It seems though that a brand new long-term adventure is just starting for Bitcoin.