Bitcoin Poised for Breakout with ‘$90K+’ BTC Price Target – New Analysis

Bitcoin is on the verge of a potential breakout as key BTC price indicators hint at new all-time highs.

• Bitcoin remains a solid bet on higher timeframes despite disappointing hodlers for much of June.
• The price action is consolidating below all-time highs, displaying classic bull market behavior.

Trader Insights: Watch BTC Price Weekly Close for Key Signals

The Relative Strength Index (RSI) and Bollinger Bands on the weekly chart are signaling a potential squeeze higher for BTC price action.

According to trader Roman, the formation of a bullish divergence between price and RSI, along with narrowing Bollinger Bands, could lead to significant volatility and potentially push BTC price into new all-time high territory.

Bitcoin Bulls Facing Reality

Other BTC price predictions, like reaching $80,000 in June or $95,000 in a single blitz breakout, are facing challenges in materializing on time.

Popular trader Daan Crypto Trades remains optimistic about a breakout to the upside within the $59K-$74K range, supported by favorable macroeconomic conditions conducive to strong BTC performance.

BTC/USD is currently trading around $64,300 at the time of writing.

Please note that this article does not offer investment advice. Readers should conduct their own research before making any investment decisions.