{"id":643001,"date":"2024-09-19T10:00:33","date_gmt":"2024-09-19T10:00:33","guid":{"rendered":"https:\/\/wncen.com\/?p=643001"},"modified":"2024-09-19T05:21:48","modified_gmt":"2024-09-19T05:21:48","slug":"october-bitcoin-going-to-90000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/october-bitcoin-going-to-90000\/","title":{"rendered":"October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000"},"content":{"rendered":"

Crypto analyst Jelle<\/span><\/a> has highlighted a bullish pattern on the Bitcoin chart, which he predicts could send its price as high as $90,000. He also provided a timeline for when this parabolic rally could begin. This comes amid a bullish outlook for the flagship crypto following the <\/span>Fed rate cuts<\/span><\/a>.\u00a0<\/span><\/p>\n

Descending Broadening Wedge Could Send Bitcoin To $90,000<\/h2>\n

In an <\/span>X post<\/span><\/a>, Jelle mentioned a <\/span>descending broadening wedge pattern<\/span><\/a> that had formed on Bitcoin\u2019s chart. He claimed that the pattern has a price target of $90,000 and added that he expects the price breakout to this target to begin in October. The analyst also remarked that the fourth quarter of this year should be \u201cfun\u201d for Bitcoin.\u00a0<\/span><\/p>\n

Related Reading: Ethereum In 2021 Vs. 2024: Fractal Suggests Major Breakout In Q4<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Indeed, based on history, <\/span>Bitcoin could enjoy significant returns<\/span><\/a> throughout October, November, and December of this year. The flagship crypto has recorded positive monthly returns in the fourth quarter of the last <\/span>two halving years<\/span><\/a>. Moreover, Q4 always yields the highest returns of the year for Bitcoin.\u00a0<\/span><\/p>\n

\"BTC
Source: X<\/figcaption><\/figure>\n

Meanwhile, in another <\/span>X post<\/span><\/a>, Jelle highlighted key price levels that Bitcoin needs to break above to ride to a <\/span>new all-time high (ATH)<\/span><\/a> and this $90,000 price target. He remarked that claiming $62,000 will be a good start for the flagship crypto and that once the price breaks above $65,000, there will be no stopping the train to a new ATH.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

Bitcoin\u2019s current ATH stands at $73,000, a price level reached in March earlier this year. However, analysts like Jelle have continued to suggest that it is still way below the crypto\u2019s market peak in <\/span>this bull run<\/span><\/a>. There is also the possibility of Bitcoin rising above $100,000 in this bull run.\u00a0<\/span><\/p>\n

Standard Chartered predicts<\/span><\/a> that BTC could reach this price level this year. The bank has also predicted that Bitcoin could rise to as high as $150,000 if Donald Trump wins the election.\u00a0<\/span><\/p>\n

BTC’s Bull Case Just Got Stronger<\/h2>\n

Jelle also mentioned that Bitcoin\u2019s bull case grew stronger following the Fed rate cuts. The <\/span>US Federal Reserve announced<\/span><\/a> a 50 basis point (bps) interest rate cut on September 18, a move widely regarded as bullish for the flagship crypto. The crypto analyst mentioned that expansionary policy is on the horizon with looser monetary back in place.\u00a0<\/span><\/p>\n

Related Reading: Fantom To $2: Here\u2019s What\u2019s Driving The FTM Price Recovery<\/a><\/div>\n

More liquidity<\/span><\/a> is expected to flow into risk assets like Bitcoin, sparking a price surge in the crypto\u2019s price, which has remained stagnant for a while <\/span>due to low demand<\/span><\/a>. The bulls also look to be back following the rate cuts, which could signal a bullish reversal for BTC.\u00a0<\/span><\/p>\n

Crypto analyst Ali Martinez recently revealed that 61.95% of top traders on Binance are going long on the flagship crypto. Before now, there was a bearish sentiment among these traders, as <\/span>NewsBTC reported<\/span><\/a> that 51.41% of them were shorting Bitcoin.\u00a0<\/span><\/p>\n

\"BTC
Source: X<\/figcaption><\/figure>\n

At the time of writing, Bitcoin is trading at around $61,900, up over 2% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC makes it to $61,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Jelle has highlighted a bullish pattern on the Bitcoin chart, which he predicts could send its price as high as $90,000. He also provided a timeline for when this parabolic rally could begin. This comes amid a bullish outlook for the flagship crypto following the Fed rate cuts.\u00a0 Descending Broadening Wedge Could Send Bitcoin To $90,000 In an X post, Jelle mentioned a descending broadening wedge pattern that had formed on Bitcoin\u2019s chart. He claimed that the pattern has a price target of $90,000 and added that he expects the price breakout to this target to begin in October. The analyst also remarked that the fourth quarter of this year should be \u201cfun\u201d for Bitcoin.\u00a0 Related Reading: Ethereum In 2021 Vs. 2024: Fractal Suggests Major Breakout In Q4 Indeed, based on history, Bitcoin could enjoy significant returns throughout October, November, and December of this year. The flagship crypto has recorded positive monthly returns in the fourth quarter of the last two halving years. Moreover, Q4 always yields the highest returns of the year for Bitcoin.\u00a0 Meanwhile, in another X post, Jelle highlighted key price levels that Bitcoin needs to break above to ride to a new all-time high (ATH) and this $90,000 price target. He remarked that claiming $62,000 will be a good start for the flagship crypto and that once the price breaks above $65,000, there will be no stopping the train to a new ATH.\u00a0 Bitcoin\u2019s current ATH stands at $73,000, a price level reached in March earlier this year. However, analysts like Jelle have continued to suggest that it is still way below the crypto\u2019s market peak in this bull run. There is also the possibility of Bitcoin rising above $100,000 in this bull run.\u00a0 Standard Chartered predicts that BTC could reach this price level this year. The bank has also predicted that Bitcoin could rise to as high as $150,000 if Donald Trump wins the election.\u00a0 BTC’s Bull Case Just Got Stronger Jelle also mentioned that Bitcoin\u2019s bull case grew stronger following the Fed rate cuts. The US Federal Reserve announced a 50 basis point (bps) interest rate cut on September 18, a move widely regarded as bullish for the flagship crypto. The crypto analyst mentioned that expansionary policy is on the horizon with looser monetary back in place.\u00a0 Related Reading: Fantom To $2: Here\u2019s What\u2019s Driving The FTM Price Recovery More liquidity is expected to flow into risk assets like Bitcoin, sparking a price surge in the crypto\u2019s price, which has remained stagnant for a while due to low demand. The bulls also look to be back following the rate cuts, which could signal a bullish reversal for BTC.\u00a0 Crypto analyst Ali Martinez recently revealed that 61.95% of top traders on Binance are going long on the flagship crypto. Before now, there was a bearish sentiment among these traders, as NewsBTC reported that 51.41% of them were shorting Bitcoin.\u00a0 At the time of writing, Bitcoin is trading at around $61,900, up over 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":643007,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-643001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nOctober To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000<\/title>\n<meta name=\"description\" content=\"Crypto analyst Jelle has highlighted a bullish pattern on the Bitcoin chart, which he predicts could send its price as high as $90,000.\" \/>\n<meta name=\"robots\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000","url":"http:\/\/wncen.com\/news\/bitcoin\/october-bitcoin-going-to-90000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/october-bitcoin-going-to-90000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/Bitcoin-price-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/Bitcoin-price-2.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-09-19T10:00:33Z","datePublished":"2024-09-19T10:00:33Z","dateModified":"2024-09-19T10:00:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"October To Remember: Descending Broadening Wedge Says Bitcoin Is Going To $90,000\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/october-bitcoin-going-to-90000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/october-bitcoin-going-to-90000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Bitcoin-price-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Bitcoin-price-2.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-09-19T10:00:33Z\",\"datePublished\":\"2024-09-19T10:00:33Z\",\"dateModified\":\"2024-09-19T10:00:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/Bitcoin-price-2.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/643001"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=643001"}],"version-history":[{"count":1,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/643001\/revisions"}],"predecessor-version":[{"id":643008,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/643001\/revisions\/643008"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/643007"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=643001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=643001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=643001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}