Bitcoin (Bitcoin) It broke through $66,000 again on October 21, after the new macro turbulence triggered a retest of the previous historical high.
Evergrande failed to stop Bitcoin bulls
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.
#BTC Successfully retested the orange area as support to reach a new all-time high
— Rekt Capital (@rektcapital) October 21, 2021
“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.
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.”
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.