Analyst Points To Key Bitcoin Metric Indicating A Strong Uptrend—$90K in Sight?

Bitcoins

bitcoins Analyst Points to Key Bitcoin Metrics Indicating a Strong Uptrend—$90K in Sight?

Bitcoin (BTC) has been on an upward trend in recent weeks, showing positive price movements that appear quite appealing to investors.

According to a recent CryptoQuant analysis, a key metric, “active address momentum,” paints a bullish picture for the cryptocurrency.

Active Address Momentum Signals Upward Market Structure

Active addresses represent the number of unique addresses conducting transactions on the Bitcoin network, providing insights into network activity and investor engagement.

By applying a 30-day moving average (30DMA) and a 365-day moving average (365DMA) to this indicator, the CryptoQuant analyst could assess the network’s growing momentum.

bitcoins Bitcoin active addresses.
Bitcoin active addresses. } Source: CryptoQuant

The analyst emphasized that the 30DMA has sharply risen recently and is closing in on the 365DMA. If a “golden cross” occurs, where the 30DMA surpasses the 365DMA, it could signal a further bullish trend for Bitcoin, dent reveals.

The CryptoQuant analyst added that Bitcoin has seen high transaction volumes since the second half of the year, supporting increased network activity.

While the current upward momentum is encouraging, the analyst also warned of potential volatility due to a “rising wedge” formation in Bitcoin’s price chart—a pattern that could lead to significant price swings if the wedge continues to tighten.

Bitcoins Bitcoin Rally To $90,000 In Sight?

Bitcoin’s recent price performance has added to the optimism among investors. Over the past week, the cryptocurrency has surged by over 10%, and it has continued its upward trajectory, rising by an additional 1.98% in the past 24 hours to trade at $68,708 at the time of writing.

bitcoins Bitcoin (BTC) price chart on TradingView
BTC price is moving upwards on the 2-hour chart. Source: BTC/USDT on TradingView.com

This upward movement has helped Bitcoin break through a major resistance zone on its daily chart, sparking predictions of even higher prices.

One notable prediction came from crypto analyst Javon Marks, who recently shared his outlook on X. Marks highlighted that Bitcoin has broken out of a “descending broadening wedge” pattern. Statistically, this pattern suggests that when the resisting line is broken, the price objective is reached in 81% of cases.

In Bitcoin’s case, Marks believes that this breakout could push the price of Bitcoin to a range between $90,000 and even more than $96,000.

#Bitcoin (BTC) is now broken out of the displayed ‘descending broadening wedge’ pattern and statistics from this type of pattern states that in 81% of cases, the pattern’s price objective is reached when the resisting line is broken.

Bitcoin’s Price Objective:

$90,000-$96,000+ https://t.co/lPZZtJm7pi pic.twitter.com/hudApLSlDj

— JAVON⚡️MARKS (@JavonTM1) October 17, 2024

Featured image created with DALL-E, Chart from TradingView

bitcoins Samuel Edyme

Bitcoins

Samuel Edyme

Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

Disclaimer: The information found on NewsBTC is for educational purposes
only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
investments and naturally investing carries risks. You are advised to conduct your own
research before making any investment decisions. Use information provided on this website
entirely at your own risk.

Samuel Edyme Read More

Latest

Former Angels Top Prospect Jordyn Adams, 26, Commits To SMU Football

The 2018 wide receiver recruiting class was spearheaded by top prospects Amon-Ra St. Brown and Ja’Marr Chase. Both elite talents lived up to the immense hype and have since become All-Pro receivers in the NFL. Lost in that group was the player who sat between Brown and Chase in the rankings — a once highly-touted

College football rankings by returning production: Notre Dame ready for revenge tour

Returning production used to be one of the most important predictors of success in an upcoming college football season. Before the transfer portal ushered in a new era of player movement, replacing starters was a lot more difficult — and identifying which teams had the fewest holes to fill was a surefire why to identify which

What Is Actually Different This Season About Houston Football?

In just the second year under head coach Willie Fritz, Houston football finished with a 10-3 overall record, and the Cougars were one of the best teams in the Big 12 Conference. While the Cougars lost a lot of talent in the offseason, Houston reloaded through the transfer portal and 2026 recruiting class. Now, one

Martin Scorsese has officially joined the AI camp and it’s not what anyone expected

Martin Scorsese has partnered with AI startup Black Forest Labs to use generative AI for storyboarding Martin Scoresese Everett Collection / Shutterstock.com Hollywood’s complicated romance with artificial intelligence just got a whole lot more interesting. Martin Scorsese, the 83-year-old director behind Goodfellas, Raging Bull, and The Departed, has signed on as a partner and adviser

Newsletter

Don't miss

Former Angels Top Prospect Jordyn Adams, 26, Commits To SMU Football

The 2018 wide receiver recruiting class was spearheaded by top prospects Amon-Ra St. Brown and Ja’Marr Chase. Both elite talents lived up to the immense hype and have since become All-Pro receivers in the NFL. Lost in that group was the player who sat between Brown and Chase in the rankings — a once highly-touted

College football rankings by returning production: Notre Dame ready for revenge tour

Returning production used to be one of the most important predictors of success in an upcoming college football season. Before the transfer portal ushered in a new era of player movement, replacing starters was a lot more difficult — and identifying which teams had the fewest holes to fill was a surefire why to identify which

What Is Actually Different This Season About Houston Football?

In just the second year under head coach Willie Fritz, Houston football finished with a 10-3 overall record, and the Cougars were one of the best teams in the Big 12 Conference. While the Cougars lost a lot of talent in the offseason, Houston reloaded through the transfer portal and 2026 recruiting class. Now, one

Martin Scorsese has officially joined the AI camp and it’s not what anyone expected

Martin Scorsese has partnered with AI startup Black Forest Labs to use generative AI for storyboarding Martin Scoresese Everett Collection / Shutterstock.com Hollywood’s complicated romance with artificial intelligence just got a whole lot more interesting. Martin Scorsese, the 83-year-old director behind Goodfellas, Raging Bull, and The Departed, has signed on as a partner and adviser

Trump quietly signs a downsized AI executive order asking companies to voluntarily submit models for review 30 days before release

President Trump signed an executive order on Tuesday establishing a voluntary framework for government review of frontier AI models before public release, ending weeks of internal White House conflict over how aggressively to regulate the technology. The order, titled “Promoting Advanced Artificial Intelligence Innovation and Security,” was signed privately without the usual livestream or public ceremony, a

Jury acquits 2 business executives of bribing Navy admiral for government contract

A federal jury has acquitted two business executives of charges that they conspired to bribe a retired four-star U.S. Navy admiral, who is now serving a six-year prison sentence for his conviction on corruption charges By MICHAEL KUNZELMAN Associated Press WASHINGTON -- A federal jury has acquitted two business executives of charges that they conspired

US Business Leaders Optimistic About China Cooperation, Emphasize Importance of Chinese Market

© 2026 China Money Network. All Rights Reserved. Disclaimer: The views, opinions, forecasts, and statements made by our hosts and guests are the personal views of those respective individuals and may or may not be either endorsed or accepted by China Money Network Limited or the companies with which these individuals are employed.

Tesla’s Business Has Become Much More Diversified in Just the Past Five Years. Does That Make Its Stock a Better Buy Today?

Key Points Tesla's energy generation and storage segment generated 27% revenue growth last year. The company's non-automotive segments were able to help offset a double-digit decline in auto revenue in 2025. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) is known for its electric vehicles (EVs), and while they