Bitcoin’s future is looking extremely bright, as classical indicators point to an imminent breakout that could send its price soaring beyond $90,000. Roman, a prominent trader on platform X (formerly Twitter), recently highlighted the potential for a continued bull run in a post, focusing on Bitcoin’s weekly close as a crucial indicator.
According to Roman, Bitcoin may be closer to its peak than many anticipate. His analysis of the Relative Strength Index (RSI) and Bollinger Bands on weekly charts suggests increased pressure as the next logical step for BTC. Despite predictions of a decline, Roman pointed out that a third bullish divergence between price and RSI is forming, indicating a potential uptrend.
Roman also noted the narrowing of the Bollinger Bands, which typically signals an increase in volatility. His attached chart illustrated 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 unprecedented heights. As of the time of publication, the BTC price was quoted at US$64,181.47 with a 0.5% increase in the last 24 hours.
It’s important to note that the views and opinions expressed by the author and 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.