Bullish back!!! The big one is coming, will most altcoins also surge?
Bitcoin was affected by the conflict in the Middle East last week, causing it to fall to around $60,000, but with the good performance of US employment data, it has rebounded recently and hit a high of $63,980 this morning (7th). As of the time of writing, the price is $63,500.
Although October, known as Uptober, has started slowly, it is expected that the situation may improve in the future.
From the daily trend, Bitcoin has rebounded from the 50-day moving average ($60,589), indicating that the bulls are trying to form a higher low. If the price can stay above the 20-day moving average ($62,237) in the future, the upward momentum may increase and increase the possibility of a jump to $66,500.
This point may attract shorts to enter the market, but if the bulls break through strongly, it will be expected to rise further to $70,000. If Bitcoin falls back below the 50-day moving average, it may plummet to $57,500 and then fall to the key support level of $54,000.
In addition to Bitcoin, there are several altcoins that currently look strong. Facing the upcoming bull market, I plan to deploy some tokens that are about to receive good news, and also look for some currencies with long-term potential to hold until the end of the year. Friends who play spot can leave a message 1 to get my latest strategy and detailed points!
