Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bitcoin (BTC) has defied the odds today by igniting a notable price surge. Remarkably, it has tested new levels as more gains are now expected from the leading cryptocurrency on the market. Prominent analysts are expecting the start of a priceĀ breakout, potentially resulting in a new all-time high (ATH) for the coin.
Among them is MichaĆ«l van de Poppe, a renowned crypto trader and market analyst. Earlier today, heĀ tweeted about this potential Bitcoin price rally. The analyst said that Bitcoin has already tested the $62K price level as expected and, currently, it is facing the next crucial resistance zone.
This resistance zone seems to be around the $65K price level. MichaĆ«l van de Poppe further mentioned that he is expecting an upward breakout for BTC. He predicted that this uptrend can happen this week or perhaps the next week. The analyst then mentioned thatĀ “Uptober” is finally expanding.
The broader crypto community has been eagerly waiting for “Uptober,” a term used for the month of October as gains are expected this month. So far, the market has not witnessed any huge price rallies. But todayās Bitcoin price surge is now indicating the start of a more sustained price rally, as expected by experts and traders.
Bitcoin price targets $65,000
MichaĆ«l van de Poppe had previouslyĀ predicted the end of Bitcoinās consolidation period. He tweeted on Sunday that Bitcoin had already tested the $62K range, and the consolidation would end in one to two days. The analyst explained that a successful test of $64K would likely bring the big breakout for the BTC price.
Surprisingly, this Bitcoin price prediction came to fruition as BTC tested the $64K price range today. As of now, it is trading at $64,906, after a surge of 3.44% in the last 24 hours. The coin is now targeting the $65K range, and once it clears it, more significant gains are expected from it in the coming days.
