REVEALED: Bitcoin Price New ATH Target & Key Levels to Watch

Published by

Vignesh S G

October 16, 2024

Bitcoin is back in the spotlight. On October 11, BTC was priced at $60,318, and just five days later, it climbed to a monthly high of $67,071—a solid 11.19% increase. This sudden surge has caught the eye of crypto experts, and one analyst, Ali, is particularly bullish on Bitcoin’s future.

Curious to know what Ali’s prediction is? And more importantly, should you be investing in Bitcoin right now? Keep reading to find out.

Can Bitcoin Break THIS Level?

Ali, a well-known crypto expert, recently shared his analysis on X (formerly Twitter), identifying $67,400 as a critical resistance level for Bitcoin. He used the ‘Cumulative Value Days Destroyed – Bottom & Top’ chart, which tracks the value and age of Bitcoin sold or destroyed after being held for some time, to highlight this level. At the moment, Bitcoin is priced at $67,138, just below this key point, as buyers continue pushing the price upward.

Bitcoin’s Next Target

As per Ali’s prediction, if the BTC price breaks the key resistance level of $67,400, the next potential top of the market would be $86,600. This means that if the market breaks above the said resistance, it could create a new all-time high.

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However, the market might face a pullback at $67,400, making it a critical level to watch. If Bitcoin can overcome this hurdle, a new high could be within reach.

A Crucial Moment for Bitcoin

All eyes are now on Bitcoin as it approaches this significant resistance level. Will it break through and continue its upward trend, or will the market struggle against selling pressure? The next few hours will be crucial in determining whether Bitcoin can push past $67,400.

Investors are watching closely—stay tuned to Coinpedia to see how it unfolds!

Vignesh S G

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.