Categories: Bitcoin

Bitcoin is bouncing around $ 2,000 in hours after BTC price surged near its previous all-time high

Bitcoin (BTC) topped $ 66,000 again on Oct. 21 after a new wave of macro-turbulence triggered a retest of the previous all-time high.

BTC / USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Evergrande is not holding back Bitcoin bulls

Data from Cointelegraph Markets Pro and TradingView show that BTC / USD rebounded from a decline to $ 64,000 overnight.

The move comes amid falling stocks in response to renewed concerns over Chinese real estate giant Evergrande.

Bitcoin managed to maintain higher levels, however, resulting in only a brief detour below the $ 64,900 threshold, which has been the BTC record since April this year.

“The market is always moving higher than most people expect. What might happen in the coming months, ”said Michaël van de Poppe, a Cointelegraph employee. summary for Twitter followers.

$ 75,000 next target

A new all-time high of over $ 67,000 was posted on Wednesday after a squeeze drove BTC / USD to over $ 3,000.

Related: 20/10 Price Analysis: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Analysts note that the monthly candle for October is larger than Bitcoin’s overall all-time high since December 2017.

“BTC is testing its old ATH for support”, Dutch crypto education and consulting platform Eight Written in the latest update.

“If we ricochet from here, some observable levels are around 75,000, 87,000 and 96,000, which were derived from the recent price action with the Fibonacci retracement tool.”

BTC / USD chart with Fibonacci levels. Source: Eight / Twitter

As Cointelegraph reported, Fibonacci is responsible for long-term BTC price results and is currently placing the top of this bull cycle towards $ 300,000. Conversely, a low could be between $ 47,000 and $ 60,000 – still above the previous cycle’s $ 3,100 floor.

.

.

Coincu

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

1 hour ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

3 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

3 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

5 hours ago

This website uses cookies.