Bitcoin (Bitcoin) On October 28th, there was a classic surge again, as the bulls enjoyed the hourly candle of $1,700.
Bitcoin suddenly gave up short
This move means that the currency pair has a strong suspicion of recent bearish behavior, almost invalidating the expected head and shoulders pattern.
As Cointelegraph Report, Analysts have been indifferent to Bitcoin’s retracement, and some have even raised their price targets for a longer period of time.
I will be back on Friday, but I couldn’t help but drew some random lines…
It seems that I am not optimistic about $40,000.
Quote: “The first target is 73k”.
Hmm…I think the target is raised to 90,000 US dollars, after the revision, we should see 100,000 US dollars
Very satisfied with the current price/discount pic.twitter.com/yg6GabmfDu
— Crypto_Ed_NL (@Crypto_Ed_NL) October 27, 2021
At the time of writing, BTC/USD hovered around $61,000 and reached a local high of $61,250 on Bitstamp. The financing interest rate is still very low, indicating that the leverage has been successfully “washed out” in recent days.
Dogs dominate altcoins
Altcoins have risen simultaneously with Bitcoin, and the top 10 cryptocurrencies by market capitalization have risen by several percentage points.
The market is still Dominant However, Shiba Inu (SHIB)’s altcoin rose 43% that day and 150% in a week.
The focus then turned to Dogecoin (dog), as SHIB/USD broke away from historical highs, this formed an imitation.