Bitcoin (BTC) crosses $ 62,000 – How long will it take Bitcoin to exceed its current ATH? What are the levels of support and resistance to pay attention to?
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$ 60,000 Bitcoin: A Clear Way for New ATHs
Bitcoin crosses $ 60,000 threshold today, October 15, 2021, and He then won $ 61,000, Before experiencing a slight decline. Bitcoin is trading at $ 62,428 At the time of writing this article.
This strong bullish momentum comes after Bloomberg reported that according to sources familiar with the matter, The SEC could give the green light to a number of future Bitcoin ETFs, which will then be available for trading as early as next week..
Is Bitcoin now ready to reach new heights of all time? Before its price exceeded $ 60,000, trader Rekt Capital noted that Bitcoin Was “just below the price level it should close with a weekly candle up to allow for another exponential increase.” The price of Bitcoin now stands at over $ 62,000, but it will have to Stay over $ 60,000 by the end of the week In order to subsequently experience this sharp rise.
Whale map data shows Virtual lack of supply “at prices over 59 thousand. “ Therefore Bitcoin should soon discover new price areas beyond its current ATH.
Bitcoin at $ 300,000: The price of the bear floor at $ 60,000
What does $ 60,000 really represent for Bitcoin? TechDev twitto set this level as approx The floor price of Bitcoin for this cycle is based on historical data. TechDev holds the theory that the price of BTC develops in a cycle with a bullish phase and A downward step where the price of the floor is 80% of the peak. TechDev also uses Fibonacci sequences combined with historical data to identify the price of this floor.
He then set identical ranges explaining floor prices of less than $ 200 in 2014 and around $ 3,200 in December 2018. TechDev estimates that “the next bear floor is 47-60K.”
Based on these assumptions, Bitcoin can come An all-time high of $ 300,000 for this cycle.
The forecasts are optimistic and so are the markets. The ball is now in the SEC court, which must change the law to send the price of bitcoin into a new sky.
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