The post Bitcoin Will Hit New All-Time High If It Breaks This Level appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. Bitcoin, which started the month on a negative note, has begun to regain some positive momentum and is up by 1.66% in the past 24 hours. This recovery comes amid renewed optimism in the crypto space, as traders and investors remain hopeful for a solid finish to the year. In a recent post on social media platform X, popular crypto analyst Inmortal revealed Bitcoin is still on its way to creating a new all-time high very soon. The only thing the bulls need to do is to ensure a break above the $64,000 price tag.  Related Reading Bitcoin New All-Time High Coming Soon? The general consensus is that Bitcoin is going bullish in October, although different analysts have varying outlooks as to how this will happen. Taking to his social media account, Inmortal noted that the only prerequisite for a new Bitcoin all-time high is for the price to break above $64,000. According to an accompanying Bitcoin/TetherUS chart, this price level is situated just above the October monthly open. This means a sustained break above $64,000 would nonetheless translate to a green monthly close in October.  Breakout above 64k = New ATH$BTC pic.twitter.com/mUvDN5sTyi — Inmortal (@inmortalcrypto) October 4, 2024 Interestingly, Inmortal had noted in an earlier X post that Bitcoin’s drop from $66,000 on September to $60,000 on October 2nd feels like the flagship digital asset has reached a local bottom. This is because Bitcoin seemed to retest this level three times before eventually rebounding upwards. However, he did clarify that this is only based on a hunch because there is no market structure break or confirmation yet. Interestingly, this local bottom sentiment is supported by analysis from a CryptoQuant analyst known as “caueconomy.” Bitcoin is now trading at $62,395. Chart: TradingView Inmortal…

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Filed under: News - @ October 6, 2024 1:09 am