Will BTC hit a new all-time high? Cryptocurrency analyst reveals why BTC could reach 90,000 US dollars

Cryptocurrency analyst RLinda is optimistic about BTC and believes that the flagship cryptocurrency may soon reach a new all-time high (ATH). She also provides reasons why BTC may rise to $90,000.

RLinda mentioned in a TradingView article that the fundamentals and technical conditions support further pump in BTC price, which could drive it up to $90,000. On the fundamental side, she pointed out that the market is awaiting the launch of SpotETH ETF, which will be "another positive leverage for the Crypto market".

In addition, RLinda stated that Donald Trump has confirmed his support for Cryptocurrency, which increases his chances of re-election. According to her, if he ultimately wins, the market will react positively. The Cryptocurrency analyst emphasized the "other minor differences in other parts" that could drive BTC to such heights.

She pointed out that other senior US politicians are reconsidering their position on bitcoin, and the US Securities and Exchange Commission (SEC) is also "smoothly changing its position on cryptocurrency".

This includes a recent statement from Hester Peirce, a commissioner of the Securities and Exchange Commission (SEC), indicating that the commission is willing to reconsider the plan to include a StakeSpot Ethereum (ETH) ETF.

From a technical perspective, RLinda revealed that a classic bullish flag pattern is forming on the daily chart of BTC. She further pointed out that currently, BTC is 'highly likely' to retest the strong resistance level at $71,700 and even rise further to the recent high of $73,794.

She added that the flagship Cryptocurrency will only have the chance to "follow the prerequisite for breaking the global resistance level (73,800 US dollars)" after BTC retests these areas.

RLinda mentioned that 67,250 USD and 71,750 USD are resistance levels that BTC should seek to break through. Meanwhile, 63,800 USD and 59,300 USD are support levels that flagship must maintain.

In addition, RLinda revealed that the current price range of BTC is conducive to breaking the resistance level, and she claimed that this will "open up a new path to the nearest resistance level".

In the short term, she expects BTC to break through the resistance level of $67,250 and further pump to between $71,700 and $73,800.

As BTC has retested the resistance level of $67,250, RLinda has updated her trading idea. She emphasized the cup and handle pattern on the weekly chart of BTC. The Cryptocurrency analyst stated that this bullish pattern is in the final stage of "realization before formation". From the chart she shared, this cup and handle pattern supports the possibility of BTC price skyrocketing to $90,000.

According to the data, the trading price of BTC is about $67,300, which has pumped nearly 1% in the past 24 hours.

(Data Source: Scott Matherson)