Categories: Ethereum

Bitcoin sees a new surge in a split second as analysts say it is “almost”

Bitcoin (BTC) continued its abrupt bullish pattern on November 24th when abrupt momentum resulted in a brief spike above $ 57,400.

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

Analyst: 2021 is still following a bullish pattern

Data from Cointelegraph Markets Professional and TradingView shows BTC / USD is making nifty moves within a known range on Wednesday.

The pair hit a high of $ 57,875 on Bitstamp in the past 24 hours, those levels did not last long as buyer support remained weak near the resistance level of $ 60,000.

In an overall unattractive market environment, some took the opportunity to highlight the lingering similarities between 2021 and previous bull years.

Popular Twitter account TechDev focuses on Fibonacci levels and the behavior of Bitcoin around them – this year so far has been exactly in line with the benchmarks.

All 3 are done #BTC Cycles see the “mid-cycle” bounce off the 1.272 mark.

Later…

2013 encountered resistance at 1.55.

2017 will face resistance at 1,618.

2021 has to do with both.

The latter is history when the mania began. pic.twitter.com/VQ5bTQaY5H

– TechDev (@ TechDev_52) November 24, 2021

That analysis included a prediction of the current cycle of up to $ 300,000.

In previous comment, TechDev agrees that it is “almost about time” for Bitcoin’s Relative Strength Index (RSI) to see its own return, with price lagging behind.

In the meantime, his commercial colleague Pentoshi Confirmed believes $ 60,700 should be withdrawn and held in order to plan long positions.

He told Twitter followers: “Soldiers seem very weak at the lows here so far.

Zcash Crosses Top 10 Crypto Profits

With Bitcoin playing an interesting game, altcoins will have more decisive moves on Wednesday.

Related: SAND sandbox tokens rose 260% in November ahead of the Metaverse for-money game launch

At press time, Ether (ETH) was down 4.7% to $ 4,290, the strongest performer of the top ten cryptocurrencies by market capitalization.

ZEC / USD 1-hour candlestick chart (Coinbase). Source: TradingView

A notable exception among the big tokens is Zcash (ZEC), which has grown 26% according to Twitter comment by Barry Silbert, founder and CEO of the huge Digital Currency Investment Group.