Bitcoin (BTC) is ready to continue its bullish move as BTC/USD maintains its 2.2% daily increase, according to a recent analysis.
BTC/USD 1-hour candlestick chart (bit stamp). Source: TradingView
Bitcoin price expected to jump $62,500
As data from Cointelegraph Markets Pro and TradingView track the best days of the week for bitcoin, confidence in higher levels is increasing.
Earlier on Tuesday, November 2, the largest cryptocurrency suddenly left the sideways trading channel, adding nearly $2,000 in just over an hour.
Amid allegations of a possible outbreak, famous trader Bentoshi believes that $62,500 may be the only opportunity for buyers to “buy a dip.”
“Any BTC return to $62.5K is a great area to add,” he advised Twitter followers along with the accompanying chart.
“Looks like the consolidation may come to an end and be ready to trend again.”
Detailed BTC/USD chart. Source: Pentoshi / Twitter
The Wall Street open is approaching, confidence among market participants is evident: a TechDev analyst is asking to break the record of $67,100.
Topic: 1/1 Price Analysis: BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE, LUNA
Ether (ETH), the largest altcoin by market capitalization, hit a new record high of $4,482 on Tuesday, just days after the previous record.
ETH/USD 1 hour candlestick chart (stamp bit). Source: TradingView
Polkadot (DOT) tops the top 10 cryptocurrencies by market capitalization, which is up 15% to $52 a day, itself a record high since the October rally.
Bitcoin de facto reached its worst monthly decline in October, staying at nearly $100,000 by the end of this month.