[Bitcoin prepares to break through “$90,000+” BTC price target]
Bitcoin (BTC) is setting up perfect conditions for a new price breakout, with two classic indicators showing bullish signals. According to recent analysis on X, well-known trader Roman reveals the formation of a sustained bullish scenario for BTC/USD.
Despite disappointing holders for much of June, Bitcoin remains a solid investment option on higher time frames and the overall picture looks better. Some believe that Bitcoin price action is simply consolidating below all-time highs, a classic bull market move that could last for months.
Roman marked the RSI and Bollinger Bands on the weekly chart, foreseeing an upward compression as the next step in BTC price action. "We are now forming a third bullish divergence between price and RSI, and many are capitulating and calling prices lower," he wrote on June 21. "The Bollinger Bands are also tightening - creating the kind of volatility that pushes prices higher and never looks back."
The accompanying chart shows the RSI making new lows while price is making new highs. This, combined with the narrowing Bollinger Bands, could create significant volatility. In a subsequent post, Roman suggested that the upside could target new all-time highs this time around. “Everyone should pay attention to this 1W closing,” he told X subscribers on June 22. “We are developing more bullish continuation signs on the higher time frames. Once volatility builds, we could eventually fully push towards 90K+.”
Well-known trader Daan also believes that Bitcoin prices are poised for a breakout. “I’ve always believed that this Bitcoin-wide breakout would be to the upside, and I still stand by that,” he said on X. "I'm not sure exactly when that's going to happen, but I doubt it's going to happen over the summer. I'm talking about the 59K-74K range."
He added that general economic conditions — record highs in U.S. stocks and falling bond yields — are conducive to a strong BTC price performance. “This has historically been a great environment for BTC and cryptocurrencies to thrive, but sometimes cryptocurrencies take a while to catch up,” the post reads. "When it catches up, it usually does so in spectacular fashion.」
