The leading digital currency has finally achieved a long-awaited breakout, prompting some analysts to set ambitious price forecasts.
One of the most outspoken voices in this discussion is Will Meade (@thechartdr), a dedicated day trader and entrepreneur. He describes the current situation as a “textbook” technical breakout, predicting that Bitcoin could reach a target price of $90,000.
Bitcoin bullish textbook breakout right now, the projected PT from this breakout is $90,000. pic.twitter.com/PJhvlFmm1o
— Will Meade (@thechartdr) March 16, 2026
Throughout February and early March 2026, Bitcoin was confined within a clearly defined horizontal channel (illustrated by blue dashed lines on the chart).
This range-bound phase saw $BTC oscillating between a local low of $63,000 and significant resistance at $72,800.
During this period, multiple “higher lows” were observed. In early March, $BTC made several attempts to surpass the $74,100 mark but faced repeated rejections. This created what appeared to be a “double top,” which deterred many short-term retail investors.
Bullish Momentum
Currently trading at $74,290 after breaking above the 50-day Exponential Moving Average (EMA 50) at $72,847; Bitcoin is showing signs of bullish momentum. The EMA 50 is generally regarded as an essential price level for mid-term trends. A close above this critical line would affirm positive momentum.
The forecasted target of $90,000 from Meade stems from analyzing the “measured move” based on previous consolidation patterns.
A breakout from such channels typically sees traders projecting upward movement equal to the height of that channel starting from where it broke out. With approximately a depth of around $10K in the range between $63K-$73K established earlier; an initial move towards about $83K seems likely before psychological factors push it further into the zone between $90K-$94K where currently lies the 200-day Moving Average (MA 200).