A widely followed crypto analyst says Bitcoin (BTC) is poised to reach a new all-time high (ATH) if it can break through one key resistance zone.
In a new strategy session, pseudonymous crypto trader Immortal told 216,300 subscribers on social media platform He said the price would soar to an all-time high.
“Breakout above $64,000 = new ATH.”
Source: Immortal/X
The trader added that the recent sell-off in the flagship digital asset, which fell from about $66,000 to $60,000 between September 29 and October 2, appears to be forming a local bottom. I can feel it,” he said.
He then pointed out that he is only interested in going long BTC in two spots. That is, the approximately $60,000 level if BTC exhibits or accepts a swing failure pattern (SFP) (a reversal indicator in which an asset’s price temporarily exceeds its previous high or low). Over $63,000.
Source: Immortal/X
But Kaleo, another noted crypto analyst, said he believes the crypto kingpin will see its price fall to around $57,000 or $58,000 before eventually reversing course. said.
He said BTC will rise further in the next month until the presidential election is over, after which it will be “fully remitted.”
“Bitcoin. It still looks like there will be a sharp drop to $57,000 or $58,000, but then it will move higher for the rest of the month as we head into serious post-election transmission.”
Source: Kaleo/X
According to Kaleo, even though Bitcoin may fall, traders should not stop accumulating Bitcoin during this decline.
At the time of writing, Bitcoin was trading at $61,948, up 2.1% in the past 24 hours.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me ×Facebook and Telegram
Surf the Daily Hoddle Mix
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Child of the 80s
