Two classic signs indicate that Bitcoin BTC tickers are setting up the ideal circumstances for a new BTC price breakthrough. Popular trader Roman has found evidence of a bullish continuation case for BTC/USD on X (previously Twitter). Even if hodlers had a difficult time with Bitcoin for a large portion of June, it is still a wise investment at higher periods when things appear much better. Some claim that the price activity of Bitcoin is just rearranging itself below its all-time highs, a traditional bull market behavior that can continue for several months. For Roman, though, it might not be too far off to return to the good old days.
He predicted that a squeeze upward was the next sensible course of action for the price of bitcoin, pointing to the Bollinger Bands and the Relative Strength Index (RSI) on the weekly chart. On June 21, he wrote, “We are now forming a third bullish divergence between P rice and RSI while many are caving in & calling for lower.” Additionally, Bollinger Bands are getting tighter, which is causing volatility to go away and not come back.
The preceding chart demonstrated that the price made higher lows while the RSI produced lower lows. Bollinger Bands that are getting closer together could result in a lot of volatility. Roman hypothesized in a later piece that the objective of such an upward move might be well into new all-time high territory. On June 22, he informed X subscribers, “You all should be paying attention to this 1W close.” On HTF, additional bullish continuation indicators are starting to appear. Finally, once volatility has increased, we can send up to 90k or more.
There’s only one week remaining in June for $80,000, while another May prediction calls for a single blitz breakout of $95,000. Another well-known trader, Daan Crypto Trades, expanded on the subject in part of a Saturday X post, saying, “I’ve always said I believed in a breakout towards the upside of this Bitcoin range and I still stand by that.” “I doubt it will take the entire summer, but I’m not sure when it will happen precisely. Here, I’m talking about the $59K–74K range.
He continued by saying that favorable macroeconomic factors, such as record-high US stock markets and falling bond yields, support robust Bitcoin price performance. The post stated, “Historically, this has been a good environment for $BTC and crypto to flourish, but sometimes it has taken a while for crypto to catch up.” “It usually does so in a spectacular fashion when it does.”
According to data, BTC/USD was trading at about $64,300 at the time of writing.