As a seasoned analyst with over two decades of market experience under my belt, I’ve seen more than a few bull and bear runs. Today’s Bitcoin surge feels like a familiar dance, albeit one that never fails to exhilarate. With a new all-time high, BTC is strutting its stuff on the global stage, flirting with the $75k mark.
Almost all of the major coins are in the green zone today, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) set a new all-time high today, rising by more than 7%.
Regardless of the recent surge, Bitcoin’s price trend remains optimistic. Should it manage to breach the $75,080 mark, an uptrend towards $76,000 and beyond could be anticipated.
In the long run, it’s essential to focus on the daily price closing points, specifically whether they reach around the $73,600 mark.
If it happens above it, there is a chance to see a test of new peaks until the end of the week.
Looking at the midpoint analysis, the situation appears rather consistent. Should the price surpass $73,794 and end the weekly period without significant fluctuation (short wick), it could potentially gather sufficient momentum to reach the $80,000 range.
Bitcoin is trading at $73,777 at press time.
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2024-11-06 18:50