The outlook for Bitcoin has never looked so promising. According to analysis of classical indicators, there are strong indications of an imminent breakout in the price of BTC that could catapult it beyond $90 thousand.

Recently, a trader known as Roman highlighted in a post on platform X (formerly Twitter) that Bitcoin is positioning itself for a continued bull run. His analytical focus is on BTC’s weekly close, which he believes is a crucial indicator.

Roman, however, suggests that a return to Bitcoin’s best times may be closer than many anticipate. Looking at the Relative Strength Index (RSI) and Bollinger Bands on weekly charts, he predicts increased pressure as the next logical step for BTC.

“We are now forming a third bullish divergence between price and RSI, while many are capitulating and predicting a decline,” Roman explained on June 21.

He also pointed to the narrowing of the Bollinger Bands, which typically portend an increase in volatility. An attached chart showed the RSI reaching lower lows while the price recorded higher lows, a classic sign of potential significant upside.

In a subsequent analysis, Roman projected that this upward movement could take BTC to new heights never seen before. “You all should pay attention to this 1W closure,” he advised his X followers on June 22.

“We are forming more optimistic continuation indications on the HTF. Once volatility builds, we can finally ship fully to 90k+.”

At the time of publication, the price of BTC was quoted at US$64,181.47, up 0.5% in the last 24 hours.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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