Bitcoin’s Road To $70,000? Analysts Set Next Targets As BTC Retests Key Levels

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BTC Challenges August Highs Rekt Capital noted that BTC has solidified the $58,000-$61,000 range as a support area throughout the year: "It has done so at a Higher Low compared to last month’s downside wicking lows as well as August’s downside wicking lows.” Moreover, the analyst stated that Bitcoin challenged August highs, at around $64,200, after the recent retests of the key levels.

Additionally, the analyst pointed out that Bitcoin has performed several successful retests, including a "volatile retest” of the 21-week Bull Market Exponential Moving Average (EMA).“Notice how the bottom of the green boxed area is confluent with the July Downtrend retest and the retest of the 21-week EMA is confluent with the top of the green box,” the analyst added.

Crypto analyst Rekt Capital highlighted Bitcoin’s recent movements, noting that BTC has been able to reclaim a 2-month downtrend as support.

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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin analysis BTCUSDT Bitcoin Crypto sentiment Crypto trader Bitcoin price Btc Uptober Bitcoin Bullish Crypto analyst Bitcoin Bullish sentiment Crypto market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-15 @ 09:30:08 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 507 words

Reading Time: 3 minutes read

Sentences: 79 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23072081

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