Bitcoin

Bitcoin&nbsp;is preparing perfect conditions for a fresh BTC price breakout, two classic indicators suggest.
In recent <a href="https://x.com/Roman_Trading/status/1803910950648533133" target="_blank" rel="noopener nofollow">analysis</a> on X, popular trader Roman revealed a bullish continuation case in the making for BTC/USD.
<h2 data-ct-non-breakable="true" id="trader-watch-btc-price-weekly-close-for-key-signals">Trader: Watch BTC price weekly close for key signals</h2>
Despite <a href="https://cointelegraph.com/news/6-months-sideways-bitcoin-price-action-mimics-2023-lull">disappointing hodlers for much of June</a>, Bitcoin remains a solid bet on higher timeframes, where the landscape looks a lot better.
BTC price action, some argue, is simply consolidating below all-time highs in what is <a href="https://cointelegraph.com/news/bitcoin-analyst-several-more-weeks-before-btc-price-breaks-70k">classic bull market behavior</a>, which can last for many months.
For Roman, however, a return to the good times seen earlier may be just around the corner.
Flagging the relative strength index (RSI) and Bollinger Bands on the weekly chart, he foresaw a squeeze higher as the next logical step for BTC price action.
“We are now forming a 3rd bullish divergence between P rice and RSI while many are capitulating &amp; calling for lower,” he wrote on June 21. 
<blockquote data-ct-non-breakable="true">
 “Bollinger Bands are also squeezing tighter - creating that volatility to send without returning.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/d6e2ee3a-ae16-4f36-8902-6cb998ecfc2a.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USDT chart with RSI, Bollinger Bands data. Source: Roman
 </figcaption>
</figure>
An accompanying chart showed the RSI making lower lows while the price made higher lows. This, combined with <a href="https://cointelegraph.com/news/bollinger-bands-how-to-use-in-crypto-trading">narrowing Bollinger Bands</a>, could produce significant volatility.
In a subsequent post, Roman suggested that the target of such an upside move could be well into new all-time high territory.
‘You all should be paying attention to this 1W close,” he <a href="https://x.com/Roman_Trading/status/1804581181520040007" target="_blank" rel="noopener nofollow">told</a> X subscribers on June 22. 
<blockquote data-ct-non-breakable="true">
 “We are forming more bullish continuation indications on HTF. Once volatility is built we can finally full send to 90k+.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/27de33a5-623e-4a54-91d3-72c943941c32.png" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-week chart with Bollinger Bands. Source: TradingView
 </figcaption>
</figure>
<h2 data-ct-non-breakable="true" id="bitcoin-bulls-face-reality">Bitcoin bulls face reality</h2>
As Cointelegraph reported, other BTC price predictions face an uphill struggle to come true on time.
Related: <a href="https://cointelegraph.com/news/watch-btc-price-support-levels-bitcoin-tumbles-64k">Watch these BTC price support levels as Bitcoin tumbles below $64K</a>
<a href="https://cointelegraph.com/news/ether-price-2-month-high-bitcoin-btc-price-69k">$80,000 in June</a> has just one week left, while another prediction from May <a href="https://cointelegraph.com/news/bitcoiner-called-pre-halving-predicts-95k-btc-price">forecasts $95,000 hitting</a> in a single blitz breakout.
“I’ve always said I believed in a breakout towards the upside of this Bitcoin range and I still stand by that,” another popular trader, Daan Crypto Trades, continued on the topic in part of a weekend X <a href="https://x.com/DaanCrypto/status/1804801942067028212" target="_blank" rel="noopener nofollow">post</a>. 
<blockquote data-ct-non-breakable="true">
 “I’m not sure when it will happen exactly, but I doubt it will take all summer either. I’m referring to the $59K-74K range here.”
</blockquote>
He added that macroeconomic conditions — with United States equities hitting record highs and bond yields dropping — are conducive to strong BTC price performance.
“This has historically been a good environment for $BTC and crypto to flourish but it has occasionally taken a while for crypto to catch up,” the post read. 
<blockquote data-ct-non-breakable="true">
 “When it does, it usually does so in spectacular fashion.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/6f28b1fb-ad5d-400e-bd71-10c30edc079a.png" alt="" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-day chart. Source: TradingView
 </figcaption>
</figure>
BTC/USD traded at around $64,300 at the time of writing, per data from <a href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA..">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" target="_blank" rel="noopener nofollow">TradingView</a>.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin prepping breakout with ‘$90K+’ BTC price target — New analysis

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