Breaking through $66,000, is the daily double top a real breakthrough or a false breakthrough?

After Bitcoin reached $63,000 yesterday, it continued to rise rapidly. It quickly rose and broke through several important windows, and at nearly 7 o'clock this morning (15), it broke through $66,500, once again reaching the previous high at the end of September.

At the time of writing, it is down slightly and is currently trading at $65,266, a jump of 5.34% in the past 24 hours.

Can it successfully break through the previous high after the volatility this time?

The daily level has returned to the top state at the end of September. If the double top structure can be broken through, the next step will directly reach 70,000 US dollars! But it cannot be denied that if it is a false breakthrough, it will face a large correction risk in the short term.

How much will BTC see in this bull market???

What will be the highest point of Bitcoin in this bull market? Let me share my thoughts.

In the 20-21 bull market cycle, Bitcoin followed a 3-day rebound cycle after the halving, which lasted for 12 months and had an upside of 50,000 points. The last round of Bitcoin halving was on May 12, 2020, with a real price of around 10,000 yuan, so the peak reached before May 2021 was around 60,000 yuan, and the second peak in the second half of the year was 69,000 US dollars.

If the weekly chart is for 12 months, the upside is 12,000+, plus the price of Bitcoin during the bull market halving is 73,000 US dollars.

If the monthly line goes for 12 months, the upside is 70,000, and the highest point is 150,000+.

Comprehensively judging, the possible range of Bitcoin's highest point in the next bull market is: around 128,000 to 149,000 US dollars!

Two potential positives for the cryptocurrency market in November:

1- US Presidential Election: On November 5, the US Presidential Election will be settled, and Trump is expected to be re-elected.

2- There are still 24 days until the Federal Reserve’s interest rate meeting. Judging from the current data, the probability of the Federal Reserve cutting interest rates by 25 basis points in November is 88.5%. There is a high probability that there will be two more interest rate cuts this year, which is good for the cryptocurrency circle. It is only a matter of time before Bitcoin breaks through 75,000 and sets a new historical high.

Everybody cheer up, no matter if you are making a profit now, those who are making a profit will not cash out, it is just a string of numbers. Don't worry about the losses, you will earn it back many times in the future.

If you are still short, you need to pay attention to these hot spots in the market:

Meme coin field:

Neiro is currently leading the rise and is the leader in this wave of Meme trend, with BN big dealer and strong community support behind it. This kind of project often relies on the promotion of emotions and capital.

2. AI sector:

Projects such as TAO, ARKM, AR, NEAR, and AIT are rising rapidly, especially after presidential candidate Harris announced that she would vigorously develop AI. Policy support is often the key to the outbreak of technology sector projects, and this wave of AI projects is worth in-depth study.

Modular Project TIA:

Currently, there is a big short squeeze, and the TIA Foundation has also conducted a half-price OTC transaction of $100 million. Next month, there will be a large-scale unlocking, and the market generally expects that the market will pull up before the unlocking. In addition, TIA's short-selling fee rate is as high as -160%, which shows that the market short-selling sentiment is very strong, and it is worth observing this wave of pull-up.

On-chain Meme Project Terminus:

Backed by Musk's Mars narrative, it soared 2,000 times in a week, and with the support of bigwigs such as Li Ping, many local communities are actively spreading it. The nature of Meme coins determines that they can attract a large amount of speculative funds, especially in the context of market fluctuations, speculative funds begin to concentrate on these projects on the chain.

The article is time-sensitive and is for reference only.

Focus on K-line technology research and win global investment opportunities. Official account: Crypto Wufan