The crypto analyst RLinda has made a bold claim that Bitcoin could soon reach a new all-time high of $90,000. This prediction is based on a combination of fundamental and technical factors that she believes are currently supporting the further price growth of Bitcoin.
RLinda points out that there are several fundamental factors at play that could drive Bitcoin’s price to new heights. She mentions the anticipation of the launch of Spot Ethereum ETFs as a potential positive catalyst for the cryptocurrency market. Additionally, she notes that the support of high-ranking US politicians like Donald Trump and the changing stance of regulatory bodies like the SEC are contributing to a positive sentiment in the market.
On the technical side, RLinda highlights the formation of a classic bullish flag pattern on Bitcoin’s daily chart. She predicts a high probability of Bitcoin retesting the resistance levels at $71,700 and potentially even surpassing its all-time high of $73,794. These price levels are crucial for Bitcoin to establish a foundation for breaking out of the global resistance at $73,800.
According to RLinda, Bitcoin needs to break through key resistance levels at $67,250 and $71,750 in order to continue its upward trajectory. On the other hand, it is essential for Bitcoin to maintain support levels at $63,800 and $59,300 to sustain its current price range.
In the short term, RLinda expects Bitcoin to break out from the $67,250 resistance level and potentially reach levels between $71,700 and $73,800. She believes that the current price range is favorable for a resistance breakout and could pave the way for further upward movement in the near future.
RLinda’s bullish case for Bitcoin hinges on a combination of fundamental and technical factors that she believes are aligning to support a potential price surge to $90,000. While her analysis provides a detailed rationale for this prediction, it is important to approach such forecasts with caution and consider the inherent volatility of the cryptocurrency market.