Analyst Says This Setup Could Send Bitcoin Above $90K by November

Bitcoin's latest dip has split analysts between a possible daily-cycle low and calls for another drop toward $70,000 or even $50,000 again.

Trader Matthew Hyland says Bitcoin is sitting at a daily cycle low with a bullish divergence forming on the charts, and he’s calling for prices above $90,000 by early November.

He’s making that call even as BTC trades near $76,000, down sharply since the Senate failed to advance the CLARITY Act, and while most of the market’s loudest voices are still leaning bearish.

One Analyst Sees a Bottom, Bears See a Trap

Hyland posted on X that bears were getting excited right at what he considers a daily cycle low, with a bullish divergence setup forming underneath the price action.

“See ya at $90k+ by early November,” he wrote.

Swing trader Roman replied, “Yeah, part of me really thinks this was a low,” with Hyland acknowledging that the RSI could fall further, although he pointed to liquidity around $75,000.

“So far it was just a liquidity grab IMO,” he stated, adding that there was “not really much liquidity below” that level. Additionally, he said current prices look solid to him, even though most bears still aren’t buying it and are hoping for a much deeper decline.