Bitcoin due to hit $90K 'in coming weeks' despite pullback — latest technical analysis

Bitcoin due to hit $90K 'in coming weeks' despite pullback — latest technical analysis


Bitcoin (BTC) is still on to run to $90,000 in the coming weeks after “trapping” leverage traders.

In its latest market update on Nov. 12, trading platform Decentrader underscored popular sentiment on BTC price action.

Update: High timeframes “remain bullish”

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Despite losing $4,000 in a single day Wednesday and trending sideways since, Bitcoin is anything but bearish, many analysts argue.

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.

When it does, new all-time highs are due, Decentrader believes.

“We remain bullish on high time frames and continue to expect price to rally up to the $85,000 – $90,000 region in the coming weeks, which aligns with the 1.618 fib retracement level,” the update stated.

An

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