According to the crypto trader with the pseudonym Altcoin Sherpa, there is a strong support level in the range of $ 54-58 thousand, after pushing off from which the first cryptocurrency will return to updating the highsA crypto trader and analyst under the pseudonym Altcoin Sherpa is confident that the price of bitcoin will update its all-time high in November.
According to the trader, next month the rate of the first cryptocurrency may exceed $ 80 thousand (an increase of 28% from current levels).
$BTC: Quick thoughts on #Bitcoin I still think that we'll form a higher low and 54-58k is very solid support. Still expecting all time highs to come barring some huge macro event. pic.twitter.com/O2LyhT0Jhg
— Altcoin Sherpa (@AltcoinSherpa) October 23, 2021
The analyst noted that there was strong resistance at the level of $ 59-60 thousand, but now this mark acts as support.
If this level fails, then bitcoin should push off from the range of $ 54-58 thousand, in which the next support is located, the trader believes.
Over the past weekend, the bitcoin rate fell to $ 59.5 thousand. At 12:45 on October 25, the asset is traded at $ 62.7 thousand, and its capitalization is $ 1.18 trillion. During the day, the cryptocurrency has risen in price by 3%.
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