Bitcoin bulls have been quite powerful recently! Last weekend, BTC prices surged again, reaching a high of 63,500. Although it is still stuck at the key resistance level, it seems that bulls are not going to give up easily.
This week's trend is quite interesting. It has been hovering at the support level of 60,000 US dollars. As a result, as soon as the US stock market opened on October 11, Bitcoin began to exert its strength and chased the rhythm of the US stock market. After all, the inflation pressure in the United States has eased a bit, and everyone is no longer betting on interest rate cuts, so the market has some breathing space.
From the 4-hour chart, although the previous high failed to break through, there is a chance of rebound after the retracement. RSI has risen, indicating that market demand has also increased, which is a good signal for further price increases. At this time, 62,800 is very critical, and bulls must hold this position to continue to attack 65,000.
Although the strength of the rise this weekend is still uncertain, there is still room for bulls next. There may be a few days of consolidation in the short term, but there should be a bigger breakthrough this week, and it is even expected to hit a new high!
This wave of market is quite exciting. Stay calm and don't rush. Keep an eye on the key points. Once the breakthrough opportunity comes, go for it!
