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Bitcoin Records New All-Time High Above $63,700. What’s Next?

A few minutes into the time of writing, Bitcoin (BTC) reached a new all-time high of $63,769.

The new ATH is long overdue as it has been anticipated for a long time. Interestingly, the milestone is not surprising as Coinfomania hinted at a possible breakout above $61k this week.

In one of the analyzes, the analyst stated that prices may fill the CME gap before a shot at breaking the $61k deadlock. Although the CME gap wasn’t filled, the rally started and the $61k deadlocked.

Another person that saw the new ATH coming is Dan Pantera. He made several predictions about BTC price but the one that stood out is the one he made about this week.

Pantera predicted bitcoin will hit $62,968. Accordingly, the prediction came through and the price hit both the targeted price and went higher.

Following the price, it is impossible not to see that the king coin has been bullish in the long term. Although looking at it in the short term, bitcoin price actions have been propelled by mixed sentiment and as a result, prices are not surging as they are supposed to surge.

For the Days Ahead

After breaking the $64k resistance, prices may revert to the $62,000 region. There are still high chances that BTC may drop to as low as $59,000 to fill the CME gap. 

Strong bearish sentiment will be the determining factor to fill the CME gap. A price correction to $59k may trigger a massive price hike above $62k and may slow down the momentum to $70k next month.

The buyers can prevent this dip by defending the $62,000 support. Next month, traders can look forward to seeing bitcoin trade above $72k if prices close at above $68,000 this month.

One of Pantera’s predictions came true. He also hinted at a possible surge to $74k next month. Let’s see how prices play out.

 

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