Bitcoin looks to $90,000 in the next year
TradingView analyst TradingShot recently mentioned that Bitcoin is doing well on the chart, breaking through the 1D MA50, which is the 50-day moving average, and this trend line is blue on the chart. At the same time, it also slightly broke through the top of the triangle pattern formed since July, which is the connection of those lower highs. In 1 month, the 1W MA50, which is the 50-week moving average, rebounded for the second time, which shows that buying pressure is strong. If the 1D candlestick chart closes above the lower high, then we may see a strong buy signal for at least the rest of the year.
TradingShot also mentioned that this situation is a bit like the trend before March 2024, and Bitcoin is likely to test the 6-month resistance zone before the US election. Then there may be a technical pullback, but then in the remaining year, the upward trend may resume, with the target at least the 2.0 Fibonacci extension level, which is $90,000.
