Bitcoin (BTC) remains in the range on Nov. 5 as new analysis argues that a break of $ 64,000 will create a new all-time high.

“Almost so far” for the all-time high BTC price

Data from Cointelegraph Markets Pro and TradingView show that BTC / USD is getting little attention as it is hovering sideways around $ 61,000.

After days of such movements, analysts’ focus remains on altcoins as many tokens continue to climb to new record highs.

However, it won’t come as a surprise to Cointelegraph employee Michaël van de Poppe that the BTC price action itself will turn bullish.

In his latest YouTube update of the day, van de Poppe argued that $ 64,000 will be a stepping stone for the bulls if BTC / USD breaks them convincingly. This level has held up as resistance throughout the week and has survived several breakout attempts.

“We’re still cutting $ 58,000 down to $ 64,000, and the $ 64,000 area is a key area we should break out into if we are to hit all-time highs,” he concludes.

He added that on such an event, the next area of ​​resistance will not appear until Bitcoin hits $ 72,000.

As Cointelegraph reported, November was predicted to be the extreme month – including a return to the mid-$ 50,000 region before ending as high as possible towards $ 98,000.

For van de Poppe, however, the possibility that $ 98,000 is a “worst-case” month-end closing now seems unlikely.

“I think it will be quite difficult to get there and I think we can find out for ourselves that the cycles can be longer than the previous four-year halves,” he said.

January 2022 start working for the top cycle

ONE opinion poll Meanwhile, PlanB, which is responsible for the minimum monthly closing sequence, has announced that the majority of respondents believe it will hit $ 288,000 before the start of 2022.

Related: Bitcoin retests support, with traders predicting a drop in BTC price to $ 55,000

 

While it may be hard to imagine at current prices, it requires a lot of observation so that 2021 is perfectly in line with the previous bull years of 2013 and 2017.

As a result, market participants are advocating a strong bullish order towards this 4-year cycle high.

“Mid-December to late January is still my highest probability,” said TechDev, a popular Twitter account known for such comparisons. Written Friday.

“Bet on the story the cycle tells you until it tells you another.”

TechDev previously described the cycle highs of up to $ 300,000 as “programmed”.

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