bullish

Bitcoin

Sherpa

Read

<p>After pumping over 5% on Monday and trading above $66k for a while, the Bitcoin price faced rejection there and is now trading in the $65.2-$65.5k range.</p>
<p>Altcoin Sherpa posted a viral Bitcoin chart this morning, sparking discussion among crypto enthusiasts.</p>
<p>The chart, showing 12-hour candles of BTC/USD on <a href="https://captainaltcoin.com/bitfinex-exchange-review/" target="_blank" rel="noopener noreferrer nofollow">the Bitfinex exchange</a>, reveals strong bullish momentum with a clear upward trajectory. Bitcoin’s price is currently consolidating after reaching a high of approximately $66,527.</p>
<p>This $66,527 mark represents a recent resistance level where BTC’s price is testing. It aligns with past price peaks, and the current price action is hovering slightly below it after a strong upward move.</p>
<h2 class="wp-block-heading" id="bitcoin-price-key-levels-to-watch">Bitcoin Price: Key Levels to Watch</h2>
<p>The next significant resistance is clearly identified around $70,162, just above the psychologically important $70,000 level. This corresponds to an earlier swing high and is likely a major price target for bulls, as mentioned in Altcoin Sherpa’s tweet.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="560" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-1024x560.png" alt="" class="wp-image-566915" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-1024x560.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-300x164.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-767x420.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-1536x841.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-2048x1121.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-274x150.png 274w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-100x55.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-639x350.png 639w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-552-788x431.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><em><strong>Source: <a href="https://x.com/AltcoinSherpa/status/1846037247952400468" target="_blank" rel="noopener noreferrer nofollow">X/@AltcoinSherpa</a></strong></em>
 </figcaption>
</figure>
<p>On the support side, a significant zone exists around $62,000. Bitcoin recently bounced off this region, suggesting it’s a strong demand zone. This support aligns with the consolidation phase seen in mid-September.</p>
<p>The overall trend remains bullish as BTC forms higher lows and higher highs. The BTC price seems to have broken out of a consolidation range below $63,000, signaling bullish continuation. Between mid-August and early September, a double-bottom pattern formed around $60,000, indicating a potential reversal from the previous bearish trend.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/bitcoin-etfs-see-massive-inflows-btc-price-rebounds-heres-what-to-expect-next/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs See Massive Inflows, BTC Price Rebounds: Here’s What to Expect Next</a></strong></em></p>
<p>Volume spiked during the most recent price rally, showing strong buying pressure. Although volume has slightly diminished in the last few candles, it indicates that buyers are still interested at these levels.</p>
<p>Altcoin Sherpa’s tweet states, <em>“Feeling quite confident 70k is coming next. Don’t think we have that steep of a pullback from here.”</em> This aligns with the chart analysis, where the expectation is that <a href="https://captainaltcoin.com/bitcoin-price-breaks-66k-elite-analyst-maps-btcs-path-to-over-71k/" target="_blank" rel="noopener noreferrer nofollow">BTC could move towards $70,000</a> with limited pullbacks.</p>
<p>The trader’s confidence seems grounded in the upward price action and the overall bullish trend.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/analyst-confident-bitcoin-price-will-hit-70k-next-no-pullback-from-here/" rel="noopener noreferrer nofollow">Analyst ‘Confident’ Bitcoin Price Will Hit $70k Next: ‘No Pullback’ From Here</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Analyst ‘Confident’ Bitcoin Price Will Hit $70k Next: ‘No Pullback’ From Here

Table of Contents

CaptainAltcoin

Other articles published on Oct 15, 2024

Before Investing In BNB, Buyers Should Be Mindful of These Price Levels – Here’s Why!

Top BNB Meme Coins to Buy in October 2024 for Maximum Gains

Top Crypto Coins To Invest In For Massive 108x Returns: POPCAT, DOGS, And ETFSwap

Is Satoshi Nakamoto About to Be Exposed? HBO Documentary Claims to Reveal Bitcoin Creator’s Identity

CryptoPunk 1563 “Sells” for $56M: Real Deal or Flash Loan Stunt?

Shiba Inu Shifts From Meme to Utility Token with Stripe-Backed Mass Partnership

Join our free newsletter for daily crypto updates!