CandleFocus Bitcoin Targets New All-Time High at $84,929 as Bulls Push Above $71,000
2024-10-29
Author: Content Editor
The price of Bitcoin has surged past $70,000 and the crypto market has reached a $2.4 trillion market cap, increasing by 4.8% in the past 24 hours. Bitcoin has increased by nearly 5% in the same time period. Bulls predict a new all-time high for Bitcoin and the current price action suggests a breakout rally gaining momentum. The MACD and signal lines are positive, and the moving averages indicate a bullish trend. In the short term, the BTC price is facing opposition at the 50% Fibonacci level but may test the overhead trendline near the 78.60% Fibonacci level. For longer-term projections, the next resistance levels are at $78,318 and $84,929.
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