๐ BITCOIN EYES $90,000 BREAKOUT, ANALYSTS SAY ๐
๐ Prepping for a Surge: Bitcoin is setting the stage for a significant breakout, with two classic indicators hinting at a bullish continuation.
๐ Key Weekly Close: Renowned trader Roman has highlighted crucial signals on X, suggesting BTC is poised for a major move. Despite a lackluster June, Bitcoinโs higher timeframes indicate a promising outlook.
Consolidation Phase: Some analysts argue that Bitcoin's current price action is typical bull market behavior, characterized by consolidation below all-time highs, a phase that could last several months.
Bullish Divergence: Roman points out that Bitcoin is forming a third bullish divergence between price and the Relative Strength Index (RSI). Coupled with tightening Bollinger Bands, this setup could trigger substantial volatility.
๐ง Potential Upside: Romanโs analysis indicates that once volatility builds, BTC could surge well into new all-time high territory. He emphasized the importance of the weekly close, stating, "We are forming more bullish continuation indications on HTF. Once volatility is built, we can finally full send to $90K+."
Bulls Stay Hopeful: Cointelegraphโs previous reports noted that other bullish BTC price predictions are struggling to meet timelines. For instance, an $80,000 target for June is unlikely with just a week left. However, a separate prediction from May sees BTC hitting $95,000 in a rapid breakout.
Now, we have 2 different currents. Some sources say Bitcoin is headed towards $50k before breakout, other sources say we're already preparing for the $90k. The good thing both waves have in common: They're both talking about an upward trend in the long run, so I guess HODLERS can only win!
Matthias Mende out!
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