{"id":366121,"date":"2021-11-12T16:25:00","date_gmt":"2021-11-12T13:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-due-to-hit-90k-in-coming-weeks-despite-pullback-latest-technical-analysis\/"},"modified":"2021-11-12T16:25:00","modified_gmt":"2021-11-12T13:25:00","slug":"bitcoin-due-to-hit-90k-in-coming-weeks-despite-pullback-latest-technical-analysis","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-due-to-hit-90k-in-coming-weeks-despite-pullback-latest-technical-analysis\/","title":{"rendered":"# Bitcoin due to hit $90K &#8216;in coming weeks&#8217; despite pullback \u2014 latest technical analysis"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af14b96d316b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af14b96d316b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-due-to-hit-90k-in-coming-weeks-despite-pullback-latest-technical-analysis\/#Update_High_timeframes_%E2%80%9Cremain_bullish%E2%80%9D\" >Update: High timeframes &#8220;remain bullish&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-due-to-hit-90k-in-coming-weeks-despite-pullback-latest-technical-analysis\/#Taproot_meets_ETF_decision_Sunday\" >Taproot meets ETF decision Sunday<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin due to hit $90K &#8216;in coming weeks&#8217; despite pullback \u2014 latest technical analysis <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) is still on to run to $90,000 in the coming weeks after \u201ctr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing\u201d leverage traders.<\/p>\n<p>In its latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/decentrader.com\/market_updates\/bitcoin-to-rally-after-taproot-upgrade\/\">market update<\/a> on Nov. 12, trading platform Decentrader underscored popular sentiment on BTC price action.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Update_High_timeframes_%E2%80%9Cremain_bullish%E2%80%9D\"><\/span>Update: High timeframes &#8220;remain bullish&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite losing $4,000 in a single day Wednesday and trending sideways since, Bitcoin is anything but bearish, many analysts argue.<\/p>\n<p>With short-term conditions punishing leveraged long traders but funding rates still high, however, hodlers may be in for more pain before a recovery kicks in.<\/p>\n<p>When it does, new all-time highs are due, Decentrader believes.<\/p>\n<p>\u201cWe remain bullish on high time frames and continue to expect price to rally up to the $85,000 \u2013 $90,000 region in the coming weeks, which aligns with the 1.618 fib retracement level,\u201d the update stated.<\/p>\n<p>An accompanying chart showed the target as well as nearby support levels, the nearest focusing on an area around $59,000, somewhere separate research also believes could act as a strong line in the sand for bulls.<\/p>\n<p>\u201cWhen we compare this cycle from the most recent halving date to previous cycles, we can see that so far we have not experienced a final parabolic run-up,\u201d Decentrader continued.<\/p>\n<p>While not <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/stats.buybitcoinworldwide.com\/compare-bull-markets\/\">specifically identical<\/a> to either the 2013 or 2017 bull runs, Bitcoin is still in the process of laying the foundations for a \u201cparabolic run-up.\u201d<\/p>\n<p>\u201cWhen we overlay the cycles like this, we can see how the current cycle is not directly like either of the previous cycles but is in fact a combination of the two. With a more muted potential double-top playing out compared to 2013, and less consistency than 2017,\u201d the update read. <\/p>\n<blockquote><p>\u201cAs we attempt to break out of the previous all-time high from May this year, it is setting up the prospect of a potential parabolic run-up as we saw in the late stages of the previous bull runs.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/05aecda7-3a88-4993-b0a9-85a1fdbf802f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD cycle comparison chart. Source: Buy Bitcoin Worldwide<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Taproot_meets_ETF_decision_Sunday\"><\/span>Taproot meets ETF decision Sunday<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The next few days may be decisive.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin derivatives markets \u2018healthier\u2019 than in Q1, says research after fresh leverage shakeout<\/em><\/strong><\/p>\n<p>Sunday sees not only the final decision on whether to allow the first spot price U.S. exchange-traded fund application, but also the locking in of Bitcoin\u2019s Taproot soft fork.<\/p>\n<p>While short-term fallout from an ETF rejection may hurt BTC\/USD, 2017 proved that major protocol upgrades have a cathartic effect.<\/p>\n<p>Segregated Witness (\u201cSegWit\u201d) launched four months before that year\u2019s $20,000 cycle highs, and Taproot represents the largest upgrade since.<\/p>\n<p>\u201cThe last time Bitcoin had such a major upgrade was the Segwit upgrade in Aug 2017. At that time the price of Bitcoin was at $4000, it then went on to rally up to nearly $20,000 in the following four months,\u201d Decentrader commented. <\/p>\n<blockquote><p>\u201cWill we see a similar rally this time around? Given how bullish many macro indicators are looking right now, and the rush of new money entering crypto, it is certainly possible.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/bade29dd-ced3-415e-bd3a-2d584083be79.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-due-to-hit-90k-in-coming-weeks-despite-pullback-latest-technical-analysis\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin due to hit $90K &#8216;in coming weeks&#8217; despite pullback \u2014 latest technical analysis &#8221; Bitcoin (BTC) is still on to run to $90,000 in the coming weeks after \u201ctrapping\u201d leverage traders. In its latest market update on Nov. 12, trading platform Decentrader underscored popular sentiment on BTC price action. Update: High timeframes &#8220;remain&#8230;<\/p>\n","protected":false},"author":1,"featured_media":366122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvNzExYzA5NzUtZTczMi00MTQ2LWFiZjgtZWI2NGI1ZGFiZmQxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-366121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=366121"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/366122"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=366121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=366121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=366121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}