Bitcoin Key Price Levels to Monitor in the Current Cryptocurrency Bull Run
Sunday, 10 November 2024, 13:04
Bitcoin's Rally Ignites Interest in Key Price Levels
With Bitcoin's (BTC) current rally showing no signs of slowing, the asset has surged past key resistance levels. Notably, the flagship cryptocurrency hit a record high of $80,000, driven by a post-election surge, with expectations targeting $100,000 next.
Crucial Price Levels for Bitcoin Investors
- If Bitcoin maintains a weekly close above $75,000, it will confirm a bullish bias, transforming previous resistance into support.
- Investors should keep an eye on the $69,000 level, acting as a strong support point, alongside the $65,000 from April 2021.
- As long as Bitcoin trades above these levels, the outlook remains bullish for long-term growth.
Analyst Alan Santana emphasizes that the current rally’s unique characteristics are driven by whales, supported by on-chain data showing significant Tether (USDT) minting.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.