Trader Matthew Hyland says Bitcoin is sitting at a daily cycle low with a bullish divergence forming on the charts, and he\u2019s calling for prices above $90,000 by early November.<\/p>\n
He\u2019s 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\u2019s loudest voices are still leaning bearish.<\/p>\n
Hyland posted<\/a> 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.<\/p>\n \u201cSee ya at $90k+ by early November,\u201d he wrote.<\/p>\n Swing trader Roman replied, \u201cYeah, part of me really thinks this was a low,\u201d with Hyland acknowledging that the RSI could fall further, although he pointed to liquidity around $75,000.<\/p>\n \u201cSo far it was just a liquidity grab IMO,\u201d he stated, adding that there was \u201cnot really much liquidity below\u201d that level. Additionally, he said current prices look solid to him, even though most bears still aren\u2019t buying it and are hoping for a much deeper decline.<\/p>\n That view runs against more pessimistic calls on X, including from analyst Ted Pillows, who pointed<\/a> out that BTC has lost its 50-week EMA and wrote that \u201ca drop to $70K-$72K zone is highly likely before any reversal.\u201d<\/p>\n Fellow market watcher Crypto Patel has been calling<\/a> the bearish move since Bitcoin fell from $82,500 to about $74,900 after being rejected near an $83,000 bearish order block on the daily chart,\u00a0and he\u2019s holding a $50,000 target unless Bitcoin closes above $83,000 on a higher timeframe.<\/p>\n Meanwhile, CryptoQuant contributor IT Tech took a different approach, focusing<\/a> on Bitcoin holdings rather than price structure. They pointed out that the 6- to 12-month supply band has climbed to 30.8% of realized cap, up from 16.2% in December last year, a pattern that lined up with the last three Bitcoin bottoms.<\/p>\n The analyst called it a bullish setup but stopped short of calling it the cycle low outright, noting that the OG cryptocurrency is still down nearly 40% from its peak and that \u201cthis reads as mid-cycle floor building, not the cycle low.\u201d<\/p>\n BTC was trading near $76,000 at the time of writing, down about 1.5% in 24 hours and nearly 5% over the past week, although it\u2019s still up close to 19% across 30 days.<\/p>\n The drop follows Tuesday\u2019s Senate vote, when cloture on the CLARITY Act failed<\/a> to gather the 60 votes needed to move the bill forward. As CryptoPotato<\/em> reported earlier, Bitcoin short-term holders sent<\/a> more than 23,000 BTC to exchanges at a loss in the aftermath, worth close to $1.8 billion, marking the largest capitulation event in about a month.<\/p>\n The post Analyst Says This Setup Could Send Bitcoin Above $90K by November<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Trader Matthew Hyland says Bitcoin is sitting at a daily cycle low with a bullish divergence forming on the charts, and he\u2019s calling for prices above $90,000 by early November. He\u2019s 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 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-228490","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/228490"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=228490"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/228490\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=228490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=228490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=228490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin\u2019s Price Action and the CLARITY Act Fallout<\/h2>\n