Crypto analyst RLinda has recently shared a bullish case for Bitcoin, suggesting that the leading cryptocurrency could potentially reach a new all-time high (ATH) in the near future. She has also mentioned that Bitcoin might rise to as high as $90,000, citing both fundamental and technical factors to support her predictions.
RLinda points out several fundamental reasons that could propel Bitcoin’s price upwards. She highlights the anticipation surrounding the launch of Spot Ethereum ETFs in the market, which she believes will have a positive impact on the overall cryptocurrency market. Additionally, she mentions that public figures like Donald Trump openly supporting cryptocurrencies could further boost Bitcoin’s price. She also mentions other local developments that could contribute to Bitcoin’s potential surge.
On the technical side, RLinda discusses the formation of a classic bullish flag pattern on Bitcoin’s daily chart. She indicates a high probability of Bitcoin retesting the strong resistance levels at $71,700 and potentially surpassing its current ATH of $73,794. According to her analysis, breaking through these resistance levels is crucial for Bitcoin to establish a path towards global resistance at $73,800.
RLinda emphasizes specific support and resistance levels that Bitcoin needs to overcome to realize its bullish potential. She mentions that breaking resistance at $67,250 and $71,750 is essential for Bitcoin’s upward movement, while maintaining support levels at $63,800 and $59,300 is crucial for sustaining its momentum. She also suggests that Bitcoin’s current price range is conducive to a potential resistance breakout that could pave the way for further gains.
In the short term, RLinda anticipates Bitcoin breaking out from the $67,250 resistance level and aiming for growth towards the $71,700 to $73,800 range. With Bitcoin already testing the $67,250 resistance level, she remains positive about the cryptocurrency’s short-term prospects. She also highlights the presence of a cup-and-handle pattern on Bitcoin’s weekly timeframe, indicating a bullish trend in the making.
RLinda’s bullish case for Bitcoin presents a compelling argument for potential price growth and a new ATH in the near future. With a mix of fundamental developments and technical patterns aligning in Bitcoin’s favor, the cryptocurrency market could see significant movements in the coming weeks. Investors and traders are advised to keep a close watch on key levels and indicators to make informed decisions in this dynamic market environment.
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