Bitcoin Targets $71K Amid Strong October Rally
Bitcoin’s October rally has traders excited as it pushes toward $71,000. Currently trading above its 50- and 200-day EMAs,
Bitcoin could reach $69,000 if it breaks $67,500, potentially
climbing further to test the all-time high of $73,808.
Bullish Indicators
A descending wedge pattern on the daily chart hints at more
gains, and with an RSI at 57.34, Bitcoin has room to rally before
overbought levels kick in.
Key Levels and Risks
If Bitcoin dips below $66,500, support at $64,000 could come
into play. External factors, like the Fed’s rate policies and
upcoming SEC ETF decisions, may impact Bitcoin’s path.
For now, the bullish trend continues as Bitcoin eyes another
push toward historic highs.
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