#Bitcoin recent price move is the ‘real deal market pump’ to $90K

Bitcoin got the correction “we needed,” and now it “can continue the macro uptrend higher,” says one crypto trader.

Bitcoin’s 14% surge over the past week has convinced traders that it could be the “real deal market pump” — with another correction not expected until it reaches $90,000.

“I believe this is the “real deal market pump” as fundamentals and technicals are providing confluence,” pseudonymous crypto trader “Roman” told Cointelegraph.

They explained Bitcoin’s price decline from its all-time high of around $73,738 to a 21% drop to $58,000 on May 2, was a “much-needed correction for higher prices in the future.”

Roman pointed to the “bullish reversal pattern” seen on the Bitcoin

$BTC tickers down $70,229

price chart this week as a strong indicator that it won’t drop into another consolidation period until it surpasses its March 12 all-time high of $73,679 by at least 20%.

“I think we will move to at least $90,000 to $100,000 before we see another consolidation period or correction,” they declared.

The bullish reversal pattern was signaled by a spinning top candlestick near the downtrend’s bottom on May 20, closing at $66,278, according to CoinMarketCap data.

Bitcoin was trading at $70,140 at the time of writing.