BITCOIN ahead of a major bullish break-out with 90k target

17 Sep

Bitcoin (BTCUSD) broke today forcefully above the 1D MA50 (blue trend-line) and marginally broke above the top (Lower Highs trend-line) of the Triangle pattern since July.

With buying pressure coming aggressively after the 2nd rebound on the 1W MA50 (red trend-line) in just 1 month, if a 1D candle closes above the Lower Highs, we will have a strong break-out buy signal for the rest of the year at least.

In that case, we see the emergence of a Channel Up similar to the one that preceded March 2024, as a real possibility to test the 6-month Resistance Zone before the U.S. elections, then technical pull-back going into the event and then resuming the uptrend for the rest of the year.

The Target can be at least the 2.0 Fibonacci extension level at $90000.

But what do you think? Can this potential Lower Highs break-out be the golden ticket to break out of this 6-month consolidation? Feel free to let us know in the comments section below!

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