Bitcoin (BTC) is on track to hit record highs this month and $ 72,000 low in November if the latest price data is correct.
In a tweet on October 12, Philbfilb, an analyst on the Decentrader trading platform, described what he said was an achievable price target for this and next month.
BTC price up to $ 72,000? “Strange things have happened,” says the merchant.
Uptober has shown solid bullish results so far, and analysts are keen to chart where Bitcoin’s bullish rally in the fourth quarter could lead.
As Cointelegraph reported, some predictions have used historical price comparisons and even simple calculations to achieve short-term BTC / USD targets of up to $ 300,000.
For Filbfilb, a return to all-time highs of $ 64,500 and above in the coming weeks is hypium, but the bitcoin beef market as a whole may not need much inspiration.
“There is good news, followed by stubborn scammers that strange things can happen,” he commented.
Despite the upside potential, he added that now is not the time to take risks and advised traders not to have much impact on long or short positions.
The attached chart compares 2021 and 2017, one year after the previous halving of block support. Hence, it seems possible to return to all-time highs by the end of October, and this is in line with current expectations.
BTC / USD price comparison. Source: Filbfilb / Twitter
Bets are $ 45,000.
Meanwhile, in terms of potential rejection, Filbfilb pitched the idea for $ 48,000 amid little interest in widespread selling.
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“My head says 48, but they don’t seem to be real sellers other than those on the stock exchanges,” he said in a comment on Twitter.
This reflects Decentrader’s target of $ 45,000-50,000 with counter resistance around $ 60,000.
“As in previous events, we saw a correction to retest the $ 50-1K level, which we expect again,” warned market updates late last week.
“It’s worth noting that adjustments back to important levels such as $ 50K often don’t keep up with demand the first time around, so we’ll see price action here as prices could drop as low as $ 45K as we saw in February. this year. … ”
At the time of writing, BTC / USD is trading at $ 57,400 as 24-hour changes in behavior have been followed by a decline to five-month highs.