$90,000 in Sight: Bitcoin Strikes Hard in the Long Term

The crypto world is abuzz with recent analyses suggesting that Bitcoin could target a price of $90,000 on long-term bullish signals.

Recent analyses are painting a rosy picture for Bitcoin in the long term, with some suggesting it could target a price of $90,000. This optimism is fueled by classic indicators predicting an imminent breakout in BTC price.

After a mixed performance in June, Bitcoin is still considered a solid investment over longer periods. Some analysts believe that BTC’s price action is merely consolidating below all-time highs, a typical behavior in a bullish market that can last several months.

Popular traders have pointed to the relative strength index (RSI) and Bollinger Bands on the weekly chart, predicting an upward squeeze as the next logical step for bitcoin’s price action. They noted a bullish divergence forming between the price and the RSI, while the Bollinger Bands are tightening, creating the necessary volatility for a significant rise.

In a follow-up post, the analysts suggested that the target of such a rise could well hit new all-time highs, potentially reaching $90,000. They advise paying close attention to the weekly close for further indications of bullish continuation.

Finally, the Long-Awaited BTC Rally?

Current macroeconomic conditions, such as US stock indices hitting records and falling bond yields, are favorable for a strong performance in BTC price. Historically, this has been a good environment for Bitcoin and cryptos to thrive, although it may sometimes take a bit of time for cryptocurrencies to catch up.

The prospect of a $90,000 Bitcoin is a sign of confidence in the resilience and continued growth of the crypto market. While analysts are cautious about these predictions in the short term, optimism prevails about BTC’s long-term potential as a viable and lucrative investment asset.

News source：https://www.kdj.com/cryptocurrencies-news/articles/sight-bitcoin-strikes-hard-term.html

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