Bitcoin (Bitcoin) It reached $50,000 for the first time in a month on October 5th, as the triumphant return continues.
BTC price hits a 1-month high
The latest success of Bitcoin “Uptober”, as the resistance level fell, the bears were swept aside.
For Cointelegraph writer Michaël van de Poppe, looking at the previous price behavior shows that for the current trend, the upside is a more likely conclusion, and the downside is also limited.
“Given the conclusion of historical price movements, it seems that Bitcoin is more likely to break through to around $50,000 or even recent highs, and then fall to $49,000 before we continue to rebound,” he said in his latest report. YouTube updates.
He added that the “ideal” rebound area for retesting would be around $47,500, but any lower price would not be good for the bulls.
Altcoins slow down the target
At the same time, at the time of writing, Bitcoin is ahead of the major altcoins, and their response has been slower.
The largest altcoin, Ether (Ethereum) In comparison, it is 2% higher and slightly higher than $3,400.