Bitcoin

Based on a key technical setup, Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="" target="_self" text="null">BTC</a>) is on track to a breakout to $87,000 by 2025, while BTC’s price is trapped under a crucial short-term resistance line.
<h2 id="bitcoin-setup-targets-87-000">Bitcoin setup targets $87,000</h2>
Bitcoin is on track to $87,000 in early 2025, according to the power law corridor, <a data-ct-non-breakable="null" href="https://x.com/Washigorira/status/1829084451332083825" rel="nofollow noopener" target="_blank" text="null">writes</a> popular analyst Titan of Crypto in an Aug. 29 X post:
<blockquote>
 “Bitcoin $87,000 Blue Line Target. BTC seems to be consolidating, preparing to target the blue line of the Power Law Corridor.”
</blockquote>
<figure>
 <img alt="Bitcoin price technicals target $87K by 2025, with one key resistance level in the way" name="" src="https://s3.cointelegraph.com/uploads/2024-08/0191a3b2-860a-734d-a4ce-de5398dd346f">
 <figcaption style="text-align: center;">
 BTC/USD, power law corridor. Source: Titan of Crypto
 </figcaption>
</figure>
The power law corridor measures the correlation between Bitcoin’s price and time, often used by long-term holders.
Other analysts are also eying a potential breakout, including Trader Tardigrade, who <a data-ct-non-breakable="null" href="https://x.com/TATrader_Alan/status/1829511150268260806/photo/1" rel="nofollow noopener" target="_blank" text="null">wrote</a> in an Aug. 30 X post:
<blockquote>
 “Bitcoin has been supported by Gaussian Channel since Jan 2023. After leaving the lower channel, a Massive Bull Run follows.”
</blockquote>
<figure>
 <img alt="Bitcoin price technicals target $87K by 2025, with one key resistance level in the way" name="" src="https://s3.cointelegraph.com/uploads/2024-08/0191a3b2-fc1a-7878-b9fe-bb107d8f1804">
 <figcaption style="text-align: center;">
 Bitcoin, Gaussian channel. Source: Trader Tardigrade
 </figcaption>
</figure>
The Gaussian channel is a technical indicator used by traders to define price trends. Its upper and lower channels encapsulate an asset’s price action.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-green-monthly-close-64-3k" rel="" target="_self" text="null">Can Bitcoin get a green monthly close above $64.3K?</a>
<h2 id="bitcoin-must-overcome-59-600-resistance">Bitcoin must overcome $59,600 resistance</h2>
Despite the optimistic long-term predictions, Bitcoin is currently trapped under a key resistance line.
Bitcoin needs to reclaim $59,600 to gain more upside momentum, <a data-ct-non-breakable="null" href="https://x.com/Washigorira/status/1829469266996875541/photo/1" rel="nofollow noopener" target="_blank" text="null">wrote</a> Titan of Crypto in an Aug. 30 X post:
<blockquote>
 “If BTC reclaims $59,600 and breaks through the cloud twist, the clouds would flip from resistance to support. This might trigger an upward move.”
</blockquote>
 
<figure>
 <img alt="Bitcoin price technicals target $87K by 2025, with one key resistance level in the way" name="" src="https://s3.cointelegraph.com/uploads/2024-08/0191a3b3-7b14-71a2-90ec-7833f7803474">
 <figcaption style="text-align: center;">
 BTC/USD, 1-day chart. Ichimoku Analysis. Source: Titan of Crypto
 </figcaption>
</figure>
Bitcoin’s price breakout could be delayed until October, according to market analyst Elja Boom.
The analyst <a data-ct-non-breakable="null" href="https://x.com/Eljaboom/status/1829434131912044880" rel="nofollow noopener" target="_blank" text="null">wrote</a> in an Aug. 30 X post:
<blockquote>
 “No signs of breakout yet. Consolidation could happen till October before breakout. I’m confident of a breakout in Q4 but before that, there’ll be some more choppiness!
</blockquote>
<figure>
 <img alt="Bitcoin price technicals target $87K by 2025, with one key resistance level in the way" name="" src="https://s3.cointelegraph.com/uploads/2024-08/0191a3b4-20c4-783b-ae89-ec9a7ee60c5e">
 <figcaption style="text-align: center;">
 Bitcoin bull flag, breakout Q4. Source: Elja Boom
 </figcaption>
</figure>
 Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/3k-ethereum-price-breakout-delayed-october" rel="" target="_self" text="null">$3K Ethereum price breakout likely delayed until October</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 price technicals target $87K by 2025, with one key resistance level in the way

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