Bitcoin Poised to Surge to $90,000 This Fall, Analyst Predicts

A well-known crypto trader believes Bitcoin (BTC) is poised for a significant breakout this month, potentially reaching new all-time highs.

The analyst, known as TechDev, observes that Bitcoin’s relative strength index (RSI) has formed a bottoming pattern, suggesting the possibility of a bullish reversal.

The RSI is a momentum indicator that helps determine if an asset is oversold or overbought, with values between 70 and 100 indicating overbought conditions and those between 0 and 30 suggesting oversold levels.

TechDev notes that the current timeframe mirrors the weeks leading up to previous significant price surges, particularly the all-time high breakout from 2014 to 2017.

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The analyst highlights an emerging RSI breakout that could signal a larger market shift, reminiscent of past trends.

He projects that Bitcoin could reach around $90,000 by November or December, pointing to a final consolidation against the upper trend line before a potential mid-October breakout. TechDev plans to watch for any deviations from this expected path as he continues to analyze the market.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.