Bitcoin price technicals target $87K by 2025, with one key resistance level in the way

Based on a key technical setup, Bitcoin is on track to a breakout to $87,000 by 2025, while BTC’s price is trapped under a crucial short-term resistance line.

Bitcoin setup targets $87,000

Bitcoin is on track to $87,000 in early 2025, according to the power law corridor, writes popular analyst Titan of Crypto in an Aug. 29 X post:

“Bitcoin $87,000 Blue Line Target. BTC seems to be consolidating, preparing to target the blue line of the Power Law Corridor.”

BTC/USD, power law corridor. Source: Titan of Crypto

The power law corridor measures the correlation between Bitcoin’s price and time, often used by long-term holders.

Other analysts are also eying a potential breakout, including Trader Tardigrade, who wrote in an Aug. 30 X post:

“Bitcoin has been supported by Gaussian Channel since Jan 2023. After leaving the lower channel, a Massive Bull Run follows.”

Bitcoin, Gaussian channel. Source: Trader Tardigrade

The Gaussian channel is a technical indicator used by traders to define price trends. Its upper and lower channels encapsulate an asset’s price action.

Bitcoin must overcome $59,600 resistance

Despite the optimistic long-term predictions, Bitcoin is currently trapped under a key resistance line.

Bitcoin needs to reclaim $59,600 to gain more upside momentum, wrote Titan of Crypto in an Aug. 30 X post:

“If BTC reclaims $59,600 and breaks through the cloud twist, the clouds would flip from resistance to support. This might trigger an upward move.”

BTC/USD, 1-day chart. Ichimoku Analysis. Source: Titan of Crypto

Bitcoin’s price breakout could be delayed until October, according to market analyst Elja Boom.

The analyst wrote in an Aug. 30 X post:

“No signs of breakout yet. Consolidation could happen till October before breakout. I’m confident of a breakout in Q4 but before that, there’ll be some more choppiness!

Bitcoin bull flag, breakout Q4. Source: Elja Boom

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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