Bitcoin only needs to break through $64,000 to reach a new all-time high — Analyst

Bitcoin (Bitcoin) Maintained range fluctuations on November 5th because the new analysis believes that a breakthrough of $64,000 will set a record high.

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

BTC price hits a record high “close at hand”

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD has received little attention because it is trading sideways around 61,000 USD.

After many days of such changes, analysts’ attention is still firmly focused on altcoins, as multiple tokens continue to rebound to record highs.

However, for Cointelegraph writer Michaël van de Poppe, the BTC price action itself hardly needs to be bullish.

In his recent YouTube updates On the same day, van de Poppe believed that if BTC/USD breaks convincingly, $64,000 will provide a springboard for the bulls. This level has been a resistance level throughout the week and has survived multiple breakout attempts.

“We are still hovering between US$58,000 and US$64,000. If we want to hit a record high, then the US$64,000 area here is a key area that we should break through,” he concluded.

He added that if such an event occurs, the next resistance zone will not be touched until Bitcoin clears $72,000.

As Cointelegraph Report, November is already expected to be an extreme month-including returning to the middle area of ​​50,000 USD, and then ending at a high that may exceed 98,000 USD.

However, for van de Poppe, the possibility of $98,000 is “The worst situation“The monthly closing seems unlikely now.

“I think it will be very difficult to reach that level, and I think we may realize that this cycle may take longer than the previous four-year halving cycle,” he said.

Entering the top of the cycle in January 2022

A sort of Polls At the same time, PlanB, which is responsible for the lowest monthly closing series, revealed that most respondents believe that it will reach US$288,000 by early 2022.

related: Bitcoin retests support, traders predict that the price of BTC will fall to $55,000

Bitcoin price prediction survey.Source: PlanB/Twitter

Although it may be unimaginable at the current price, this is related to multiple observations, that is, in 2021 Exactly the same Same as the previous bull market years 2013 and 2017.

Therefore, market participants believe that the order of magnitude growth at the top of this four-year cycle cannot be ruled out.

“Mid-December to the end of January is still my highest probability window,” the popular Twitter account TechDev, known for such comparisons, wrote Friday.

“The betting cycle tells your story until it tells you a different story.”

Previous TechDev describe The top of the loop up to $300,000 is used as “programming”.