• A crypto analyst has revealed a pattern that indicates an upcoming breakout in BTC price. 
  • Per the expert's prediction, BTC price targets $85,000-$90,000 area for the end of 2021. 
  • Bitcoin hit a new all-time high above $68,641 and entered price discovery earlier on Tuesday. 

Bitcoin has posted over 10% gains in the past week. The asset hit a new all-time high earlier on Tuesday. Analysts have confirmed that Bitcoin's recent breakout was predictable, based on a single pattern in BTC price trend. 

Bitcoin price eyes $90,000 as the price continues to climb

Bitcoin price recovered from the dip over the weekend and hit a new all-time high of $68,641. The asset witnessed its highest weekly close, fueling a bull run. 

Pseudonymous cryptocurrency analyst @crypto_birb is bullish on the current Bitcoin price trend. The analyst confirms Bitcoin's strength on the technical and onchain side. @crypto_birb notes that a triangle breakout in the BTC price chart with a base of $36,000 sets a target of $85,000 to $90,000. 

The analyst's June/July prediction of Bitcoin price was 100% accurate. The next key resistance in his outlook is at $89,364. 

@crypto_birb forecasts that the BTC price is likely to hit $90,000 in the ongoing bull run in his recent tweet. 

Jack Dorsey, CEO of Square, announced that the company plans to steer clear of NFTs and work on making Bitcoin the "native currency of the internet." In mid-October 2021, Dorsey's Square doubled its investment in Bitcoin, bullish on the most prominent cryptocurrency. 

The American financial services company has multiple new projects in the making, expected to boost Bitcoin's accessibility and utility. A whitepaper of Square's new business unit TBD is expected to go live on November 19. 

FXStreet analysts have evaluated the Bitcoin price trend and predicted that BTC has the most bullish setup ever. Analysts expect the Bitcoin price rally to keep going. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Fed’s Powell calls for proper crypto regulations as Bitcoin price shoots beyond $20,000

Fed’s Powell calls for proper crypto regulations as Bitcoin price shoots beyond $20,000

Bitcoin price is exploring highs above $20,000 on Tuesday after holding support at $18,800 for nearly four days. Green sprouts are noticeable across the market, led by Uniswap price’s 16.70% move to $6.60

More Bitcoin News

Ethereum price eyes $1,450 as post-Merge tax problems arise

Ethereum price eyes $1,450 as post-Merge tax problems arise

Ethereum price shows a steady climb over the last twelve hours as a direct consequence of the sudden spike in Bitcoin price, which influences the whole crypto market. 

More Ethereum News

XRP price cools off before preparing for its next 100% rally

XRP price cools off before preparing for its next 100% rally

XRP price shows an interesting development in the lower time frame that hints at a potential retracement. The higher time frame scenario also entertains the possibility of a deeper pullback after its recent explosive move.

More Ripple News

MATIC Price Prediction: These signals are key to catching Polygon’s 20% rally

MATIC Price Prediction: These signals are key to catching Polygon’s 20% rally

MATIC price continues to consolidate around the range low for more than a week and shows no signs of breaking out. Investors should pay close attention and anticipate the bullish resurgence, which could trigger an explosive move.

More Polygon News

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin makes a bullish comeback amid regulatory tension, but lacks confirmation

Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737.

Read full analysis

BTC

ETH

XRP