“Bitcoin needs to break this level to reach new highs!”

In order for Bitcoin to reach a new all-time high, it is necessary for the price to make a daily close above $63,000. In his latest analysis shared on September 19, well-known trader HornHairs identified critical levels for $BTC to move to the next support point.

Bitcoin continues to recover, with the positive impact of macroeconomic developments on risk assets this week. The BTC/USD pair gained about 8 percent during the week. HornHairs believes that $63,000 is an important threshold for the continuation of the rise after the support from $57,000.

“If we can break $63,000 and stay above this level on a long-term closing basis, we could see a real move towards ATH (all-time high).”

In line with HornHairs’ analysis, MS2 Capital noted that the 200-day simple moving average (SMA) currently overlaps with the largest on-chain volume area around $64,000.

On the other hand, well-known trader and analyst Rekt Capital revealed that Bitcoin is moving within a multi-month downtrend channel. “Bitcoin is breaking out of a downtrend that has been going on since the end of July,” Rekt Capital said.

This channel suggests that $67,000 is now a significant breakout point. However, the time for this breakout is rapidly running out; BTC/USD has been stuck in what Rekt Capital calls a “reaccumulation range” since the block reward halving event in April.

“Bitcoin has historically broken out of this reaccumulation range 150-160 days after the halving. It is currently around 158 days after the halving.”

Bitcoin, the largest cryptocurrency by market cap, hit $64,000 this morning. BTC is currently changing hands at $63,550. Bitcoin has gained 2.3 percent in the last 24 hours.

#KIP #KIPprotocol #CryptoDeNostradame #ParrotBambooCrypto #GreenCart