Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst RLinda has made a bullish case for Bitcoin, suggesting that the flagship crypto could soon hit a new all-time high (ATH). She also provided reasons why Bitcoin could rise to as high as $90,000.\u00a0 Why Bitcoin Could Rise To As High As $90,000 RLinda mentioned in a post on TradingView that fundamental and technical preconditions support further price growth for Bitcoin, which could send its price to as high as $90,000. On the Fundamental side, she noted that the market is waiting for the Spot Ethereum ETFs launch, which would be \u201canother positive lever for the cryptocurrency market.\u201d Related Reading: Solana Leads Crypto Rally As Expectations For A Break Above $200 Grow Furthermore, RLinda stated that Donald Trump, who already affirmed his support for cryptocurrencies, is increasing his chances of being reelected. According to her, the market will react positively if he eventually wins. The crypto analyst highlighted \u201cother local nuances\u201d that could propel Bitcoin to such heights.\u00a0 She noted that other high-ranking US politicians are reconsidering their stance on Bitcoin, and the US Securities and Exchange Commission (SEC) is also \u201csmoothly changing its position on cryptocurrencies.\u201d This includes SEC Commissioner Hester Peirce\u2019s recent statement that the Commission is open to reconsidering the inclusion of staking plans for the Spot Ethereum ETFs.\u00a0 BTC From A Technical Perspective On the technical side, RLinda revealed that a classic bullish flag pattern is forming on Bitcoin\u2019s daily chart. She further remarked that at the moment, there is a \u201chigh probability\u201d of Bitcoin retesting the strong resistance at $71,700 or even going higher to restest its current ATH of $73,794.\u00a0 She added that only after Bitcoin retests these zones will it become possible for the flagship crypto to \u201cfollow the formation of prerequisites for the breakout of global resistance\u201d at $73,800. RLinda mentioned that $67,250 and $71,750 are resistance levels that Bitcoin should look to break. Meanwhile, $63,800 and $59,300 are support levels that the flagship must remain above.\u00a0 Related Reading: Crypto Market Rebounds From Lows, But Why Are Cardano Holders Suffering Losses? Furthermore, RLinda revealed that Bitcoin\u2019s current price range is favorable for a resistance breakout, which she claimed will \u201copen a new way to the nearest resistance.\u201d In the short term, she expects Bitcoin to break out from the $67,250 resistance level and experience further growth to between $71,700 and $73,800.\u00a0 With Bitcoin already retesting the $67,250 resistance level, RLinda provided an update on her trade idea. She highlighted a cup-and-handle pattern on Bitcoin\u2019s weekly timeframe. The crypto analyst stated that this bullish pattern is in the last stage of \u201cits formation before realization.\u201d From the chart she shared, this cup-and-handle formation supports a potential price surge to $90,000 for Bitcoin.\u00a0 At the time of writing, Bitcoin is trading at around $67,300, up almost 1% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":630928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-630897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n
Will Bitcoin Reach A New All-Time High? Crypto Analyst Reveals Why $90,000 Is Possible<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n