Bitcoin is exhibiting signs of a potential breakout as its relative strength index (RSI) reaches new highs last seen in January. The daily RSI has broken above the 50 midpoint, indicating a potential bullish divergence as Bitcoin's price makes lower lows while the RSI trends upward. Analysts like Rekt Capital and Kevin Svenson are observing these trends and suggest that they may signal a long-term price floor around $70,000. However, current macroeconomic conditions, including a US trade war and declining risk appetite, pose significant challenges for Bitcoin. Timothy Peterson's analysis suggests that April has been an underperforming month for BTC, with the price consistently below median levels for this time of year. Other analysts predict that while April might be lackluster, underlying bullish trends may eventually surface as various indicators point to a rebound, pending macroeconomic improvements.

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