Bitcoin Price Surge: $90,000 in Sight with Bullish Momentum

This past weekend meant a lot of green candles for bitcoin (BTC). On November 11, bitcoin’s daily gain was as high as 4.5%. At the moment, a pullback for bitcoin seems unlikely, crypto traders think. Up to the price of $150,000 the way would be clear.

$90,000 is in sight for bitcoin

From the data of, among others TradingView shows that the price of bitcoin passed $89,000 after Wall Street opened. Over the past seven days, the bitcoin price has risen almost 26%, without the charts showing any signs of significant correction or consolidation.

Bitcoin is currently entering uncharted territory, but there are many traders who expect a rising price for bitcoin. For example, Peter Brandt argues that bitcoin is currently showing a large buy signal. He identified a so-called reverse head and shoulders pattern, which is positive. You have one large dip (the head), with small dips before and after that (the shoulders).

A popular account on X called Bitcoindata 21 responded that the price of bitcoin in the short term will be fueled by the bears (pessimists) among crypto traders. With their short positions, which the market then liquidates, they pull the bitcoin price up. He does not assume that bitcoin will fall back by more than 20%.

Speculations on a major price correction

There are analysts and traders who think that the price of bitcoin is in for a major correction. A trader known as Il Capo of Crypto even predicts that bitcoin will fall back to $12,000 during the current bull market.

Il Capo of Crypto is not the only pessimist. Facts from CoinGlass show that many short positions have been taken from $85,000 and many liquidations have already taken place from $80,000

Bitcoins ETFs are creating momentum

There is also an important role for the exchange-traded funds (ETFs) of bitcoin. In the previous week, Bitcoin ETFs saw more than $1.5 billion inflows.

Bitcoin’s largest ETF, BlackRock’s iShares Bitcoin Trust (IBIT), recently even surpassed gold’s ETF. The gold ETF has been trading for two decades, so this outperformance means a lot.

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Well, well, well, look who’s back in the green! Bitcoin has had a bit of a party this past weekend, getting all excited with a daily gain as high as 4.5%. I mean, it’s like watching someone who failed to do a backflip finally nail it – thrilling stuff! Traders are optimistic, suggesting the road to $150,000 is just a cruise through the countryside. Who needs a GPS when you’ve got Bitcoin plotting the course?

### $90,000: The Spotting of a Glittering Mirage

From the charts—those mysterious scrolls of financial wizardry—Bitcoin has strolled past the $89,000 mark right after Wall Street’s opening. And here’s a shocker: over the last week, it has risen nearly 26%! It sounds like my last date – all the excitement, then a total crash. But unlike my love life, Bitcoin is showing no signs of waning or sapped enthusiasm; it seems we’re simply cruising into uncharted waters!

Now, let’s talk patterns. Peter Brandt gleefully pointed out a reverse head and shoulders pattern. It’s a bit like trying to understand modern art! You’ve got one big dip (the “head”), surrounded by a couple of smaller ones (the “shoulders”). Ah, anatomy! I can barely make sense of my own body, let alone Bitcoin’s curves.

A Twitter account called Bitcoindata 21 thinks that the pessimistic bears among traders are actually fueling this price surge with their short positions. Imagine a competitive yoga class where you’re supposed to be relaxed, and instead, everyone’s pulling tight pants! Fun for the spectators, but you’re stuck in a downward dog.

### The Pessimists’ Parade of Price Correction

Yet, not everyone’s throwing confetti for Bitcoin. Il Capo of Crypto has a slightly darker forecast – predicting a plummet to $12,000. Now that’s like walking past a buffet and only eating the salad. Who would want such a drastic cutback?! His sentiments echo throughout the trading space, with analysts scratching their heads over potential massive corrections.

And think about it, traders are taking on shorts from $85,000. It’s like placing bets on whether my neighbor will ever finish his BBQ properly – the only liquidating going on around here is my patience!

### ETFs, The Glittering Gold-Diggers

Let’s shift gears and dig into Bitcoin’s ETFs. Over a cool $1.5 billion has rolled into Bitcoin ETFs recently, and the big boy on the block, BlackRock’s iShares Bitcoin Trust, has even managed to outshine the gold ETF. It’s as if the well-established gold is suddenly feeling insecure about its shiny charm in the presence of this lively newcomer. Someone get that gold a therapist!

### Editor’s Tip: Free Bitcoin – Because Why Not?

And for our Dutch readers, OKX is throwing a bitcoin party! Sign up and potentially receive 20 euros worth of free Bitcoin. What’s more enticing than free money? I did this once; they gave me a free t-shirt instead, but that’s a story for another day. It’s like throwing caution and wallets to the wind. Who doesn’t love a gamble?

### Wrapping It Up Like a Present

At the end of the day, Bitcoin is on a rollercoaster ride, and we’re all strapped in! With analysts predicting everything from sky-high successes to dramatic GPL (Great Price Loss), all we can do is sit back, grab some popcorn, and enjoy the thrilling show. And for those holding their breath waiting for XRP, Ethereum, and Solana to make their move—take a deep breath, because we’re in for a wild ride.

So, what’s next? Buckle up, my friends; the crypto scene awaits!

This past weekend proved to be a significant moment for bitcoin (BTC), characterized by a remarkable surge evidenced by a series of green candles on the charts. On November 11, bitcoin recorded an impressive daily gain of up to 4.5%, marking a key milestone in its trajectory. Currently, seasoned crypto traders remain optimistic, believing that a price pullback for bitcoin is unlikely, with prices potentially climbing to a striking $150,000 without major obstacles.

$90,000 is in sight for bitcoin

Recent data from TradingView shows that bitcoin’s price surged past $89,000 soon after Wall Street’s opening bell. Over the course of the past seven days, bitcoin’s value has skyrocketed almost 26%, with charts not indicating any signs of significant correction or consolidation during this bullish trend.

As bitcoin navigates uncharted market territory, many traders are brimming with expectations of further price increases. Analyst Peter Brandt has noted the emergence of a substantial buy signal for bitcoin, identifying a favorable reverse head and shoulders pattern that supports his positive outlook. This technical pattern consists of one pronounced dip (the head) flanked by smaller dips (the shoulders) on either side.

A well-known account on X, Bitcoindata 21, has suggested that the short-term price movements of bitcoin will be heavily influenced by bearish sentiment among some crypto traders. These pessimists, through their short positions, inadvertently fuel upward price momentum as the market liquidates these positions. The account asserts that it is improbable for bitcoin to experience a decline exceeding 20%.

Speculations on a major price correction

Despite the prevailing optimism, there exists a faction of analysts and traders who anticipate a significant correction in bitcoin’s price trajectory. A trader known as Il Capo of Crypto has gone so far as to predict a dramatic drop to $12,000 amidst this ongoing bull market.

Il Capo of Crypto is not alone in his cautionary stance. Data from CoinGlass reveals that a considerable number of short positions have been established since the $85,000 price level, with notable liquidations occurring below the $80,000 mark.

Bitcoins ETFs are creating momentum

Exchange-traded funds (ETFs) have emerged as a pivotal force driving bitcoin’s recent momentum. In just the past week, Bitcoin ETFs witnessed inflows surpassing $1.5 billion, underscoring their growing popularity among investors.

The largest ETF focused on bitcoin, BlackRock’s iShares Bitcoin Trust (IBIT), has recently outperformed gold’s long-established ETF, despite the latter being in existence for two decades. This shift in investment preference signifies a significant development in the financial landscape.

Editor’s tip: OKX is temporarily giving all Dutch people free bitcoin

Now approved by the DNB, OKX is rapidly evolving into one of the most comprehensive crypto applications available in the Netherlands. Its innovative Web3 portal empowers users to trade an impressive selection of over 1 million cryptocurrencies, including popular tokens like SHIBA, DOGE, and PEPE which gained traction before major exchanges listed them. As a special offer for Crypto Insiders readers, you receive 20 euros worth of free bitcoin when you trade on OKX.

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Te its longstanding reputation as a safe haven asset. This shift indicates a substantial change⁣ in investor ⁢sentiment as Bitcoin continues to capture attention and investment capital, pushing past traditional assets.

### A Golden Opportunity

For those pondering the potential​ of Bitcoin, now might be an ideal moment to consider⁢ entering the market. The influx of capital into Bitcoin⁤ ETFs suggests that investors are increasingly viewing Bitcoin as a legitimate asset class, one that could rival or ⁢even surpass gold. This influx of institutional investment ⁣not only adds legitimacy to Bitcoin but also stabilizes its price in the long term,⁣ thus offering a golden opportunity for new⁣ entrants.

### What Lies Ahead?

As Bitcoin continues to ‌gather momentum and eyes the $90,000 ⁢mark, many are left wondering: what’s next?⁤ Analysts ⁣are ​divided, with some projecting an upward trajectory and others⁣ cautioning against ‍potential corrections. Regardless⁤ of which scenario plays out, one thing is certain:​ the world of cryptocurrency is as unpredictable as ever.

For now, if you’re ⁤in the Netherlands,⁢ don’t miss out on ‍the chance to ‌bolster your Bitcoin holdings with⁢ a free bonus from OKX. ⁢Whether you choose‍ to dive⁤ into the market now or observe from the sidelines, the thrill of the crypto rollercoaster awaits!

Keep⁤ your eyes on the⁤ charts, stay informed, and remember to take calculated ⁤risks as you navigate this exhilarating landscape. Happy trading!