After the BTC price rebounded to near all-time highs, Bitcoin rose by $2,000 within a few hours


Bitcoin (Bitcoin) It broke through $66,000 again on October 21, after the new macro turbulence triggered a retest of the previous historical high.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Evergrande failed to stop Bitcoin bulls

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD rebounded from a low point to $64,000 overnight.

The move coincided with the fall in the stock market, and it was a response to the renewed worries of the Chinese real estate giant Evergrande.

Despite this, Bitcoin managed to maintain a high level, only briefly falling below the threshold of $64,900, which has been a record for BTC since April this year.

“The market is always higher than most people expect. What might happen in the next few months,” remains optimistic about Cointelegraph writer Michaël van de Poppe Summarize Twitter fans.

The next target is 75,000 USD

Wednesday, October 20th, see Historical high After the squeeze, more than 67,000 USD increased BTC/USD by 3,000 USD.

related: Price analysis 10/20: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

Analysts pointed out that the monthly candlestick chart in October has been greater than the historical high of Bitcoin since December 2017.

“BTC is testing its old ATH for support,” Dutch crypto consulting and education platform 8 wrote In the latest update of the day.

“If we rebound from here, we need to pay attention to some levels around 75k, 87k, and 96k. These levels come from recent price movements using the Fibonacci retracement tool.”

BTC/USD chart with Fibonacci levels.Source: Eight/Twitter

As Cointelegraph Report, Fibonacci is responsible for BTC’s long-term price survey results. The current bull market peak in this cycle is as high as $300,000.In contrast, the trough may be at US$47,000 to US$60,000 -Still an order of magnitude higher than the lower limit of $3,100 in the previous cycle.