Bitcoin BTCUSD Recent BTC price action has set a target of $85,000, with an “explosive move” expected by the end of 2024.
In a post on September 21, Titan of Crypto, a cryptocurrency trader, investor, and analyst, said: 
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Traders Countdown to Bitcoin Breakout 'By the End of the Year'
Bitcoin continues to bounce back after dropping $10,000 from September support, and continues to hold above $62,000 into the weekend.
Currently, optimistic BTC price predictions suggest that things are only going to get better for bulls, with the first stop being $85,000 for Titan of Crypto.
He uploaded a weekly Bitcoin relative strength index (RSI) chart, suggesting that the market is gaining momentum to reach all-time highs and beyond.
“$85,000 Bitcoin: intermediate target,” he summed up.
“Weekly RSI breakout suggests explosive move ahead for BTC by year end.”
The RSI is a classic trading indicator used to define possible local highs and lows while providing insight into the strength of an uptrend or downtrend at a particular price point.
The weekly RSI is currently above the key 50/100 levels, breaking the downward trend that has continued since the most recent all-time high in March.
Titan of Crypto added that if September ends on a positive note, the upward trend should continue throughout the fourth quarter.
“Historically, a positive September end has been a bullish fourth quarter,” another X post read.
“A close above $59,000 this month would likely signal a bullish end to the year. But even if we close in the red, both 2017 and 2020 had green fourth quarters. We could be hopeful for Q4.”
$61,000 emerges as 'limit line' for BTC price
Meanwhile, popular trader Skew said he needs to see further confirmation of BTC price strength in the coming week.
“From a technical standpoint, this looks pretty good,” he told X's followers.
Skew added that consecutive higher highs and lows are needed on the daily chart, calling $61,000 a key level to hold.
“Furthermore, the low of $61,000 represents a clear dividing line for the market,” he concluded.
This article does not contain any investment advice or recommendations. Any investment or trading involves risks and readers should conduct their own research when making any decision.
