Bitcoin
Bitcoin Preparing Breakout With BTC Price Target ‘$90K+’ – New Analysis – TradingView News
Bitcoin BitcoinUSD is preparing perfect conditions for a new BTC price breakout, two classic indicators suggest.
In a recent analysis on X (formerly Twitter), popular trader Roman revealed a bullish continuation case in preparation for 
Trader: Watch the weekly BTC price close for important signals
Despite disappointing hodlers throughout much of June, Bitcoin remains a solid bet on longer time frames where the outlook looks much better.
BTC price action, some argue, is simply consolidating below all-time highs in what is classic bull market behavior that can last for many months.
For Roman, however, a return to the good times seen previously could be just around the corner.
Charting the Relative Strength Index (RSI) and Bollinger Bands on the weekly chart, he predicted higher pressure as the next logical step for BTC price action.
“We are now forming a third bullish divergence between Rice P and the RSI, while many are capitulating and calling for a bearish,” he wrote on June 21.
“The Bollinger Bands are also compressing further – creating that volatility to send without returning.”
An attached chart showed the RSI reaching lower lows while the price reached higher lows. This, combined with the narrowing of the Bollinger Bands, could produce significant volatility.
In a subsequent post, Roman suggested that the target of such an upward move could be in new all-time high territory.
“You should all pay attention to this 1W closing,” he told X subscribers on June 22.
“We are forming more optimistic continuation indications on the HTF. Once volatility builds, we can finally ship fully to 90k+.”
Bitcoin bulls face reality
As reported by Cointelegraph, other BTC price predictions face an uphill struggle to come true on time.
$80,000 in June is just a week away, while another May forecast sees $95,000 hitting in a single blitz.
“I have always said I believed in a breakout to the upside of this Bitcoin range and I still stand by that,” another popular trader, Daan Crypto Trades, continued on the topic in part of an X post over the weekend.
“I’m not sure exactly when that will happen, but I also doubt it will take all summer. I’m referring to the $59,000 to $74,000 range here.”
He added that macroeconomic conditions – US stocks hitting record highs and bond yields falling – lead to strong BTC price performance.
“This has historically been a good environment for $BTC and crypto to flourish, but it occasionally takes a while for crypto to recover,” the post read.
“When that happens, it usually happens in spectacular fashion.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.