Bitcoin BTC price hit a new all-time high at $77,000 on Nov. 8 and traders anticipate the up move to continue. Bitget Research chief analyst Ryan Lee anticipates Bitcoin to surge to “$100,000 within the next three months.”
Analysts believe that the recent Bitcoin rally is not overheated and is backed by solid fundamentals.
Popular trader and analyst Rekt Capital said in a post on X that a weekly close above $71,500 could start the “parabolic phase.” He expects “a very, very limited prospect of additional consolidation.”
While signs point to a continued uptrend, traders need to be careful because the consensus is leaning heavily toward the long side. When that happens, the possibility of a sharp dip to shake out the weak hands cannot be ruled out.
What are the important support levels to watch out for during any correction in Bitcoin and select altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin has been trading above the breakout level of $73,777 for the past two days, indicating that the bulls are holding onto their positions.