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

Bitcoin ( BTC ) is preparing perfect conditions for a fresh BTC price breakout, two classic indicators suggest.

In recent analysis on X (formerly Twitter), popular trader Roman revealed a bullish continuation case in the making for BTC/USD.

Trader: Watch BTC price weekly close for key signals

Despite disappointing hodlers for much of June , 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 classic bull market behavior , which can last for many months.

For Roman, however, a return to the good times seen earlier this 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 calling for lower,” he wrote on June 21.

“Bollinger Bands are also squeezing tighter - creating that volatility to send without returning.”

An accompanying chart showed RSI making lower lows while price made higher lows. This, combined with narrowing Bollinger Bands , 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 told X subscribers on June 22.

“We are forming more bullish continuation indications on HTF. Once volatility is built we can finally full send to 90k+.”

Bitcoin bulls face reality

As Cointelegraph reported, other BTC price predictions face an uphill struggle to come true on time.

Related: Watch these BTC price support levels as Bitcoin tumbles below $64K

$80,000 in June has just one week left, while another prediction from May forecasts $95,000 hitting 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 post .

“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.”

He added that macroeconomic conditions — 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.

“When it does, it usually does so in spectacular fashion.”

BTC/USD traded at around $64,300 at the time of writing, per data from Cointelegraph Markets Pro and TradingView .

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.