Bitcoin sees fresh spikes in a split second as analysts say 'almost time' for BTC rise | MCU Times

Bitcoin sees fresh spikes in a split second as analysts say ‘almost time’ for BTC rise

Bitcoin (BTC) continued its pattern of sudden price increases on November 24, when sudden momentum produced a short trip above $ 57,400.

BTC / USD 1-hour light chart (bit stamp). Source: TradingView

Analyst: 2021 is still following a bullish pattern

Data from Cointelegraph Markets Pro and TradingView showed BTC / USD low skewed pulls within a familiar range during Wednesday.

The pair peaked at $ 57,875 on Bitstamp over the past 24 hours, and these did not last long as buyer support still declining closer to $ 60,000 resistance.

In the midst of a generally uninspiring market environment, some took the opportunity to highlight ongoing similarities between 2021 and previous bull market years.

The popular Twitter account TechDev focused on Fibonacci levels and Bitcoin’s behavior around them – this year has so far been in line with the standard rubric.

This analysis provides the basis for a prediction that the current cycle will peak at around $ 300,000.

IN previous comments, TechDev agreed that it was “almost time” for Bitcoin’s relative strength index (RSI) to see its own comeback, with price following.

Deals Pentoshi, meanwhile, confirmed a belief that $ 60,700 should be recovered and held to plan long positions.

“So far, sellers have seemed weak at the low point down here,” he told Twitter followers.

Zcash surpasses top 10 cryptocurrencies

When Bitcoin played a fat game, it was altcoins that saw more crucial moves over the course of Wednesday.

Related: Sandbox token SAND rises 260% in November ahead of play-to-earn metaverse launch

Eat (ETH) was trading at 4.7% to $ 4,290 at the time of writing, the strongest performer in the top 10 cryptocurrencies measured by market value.

ZEC / USD 1-hour light chart (Coinbase). Source: TradingView

A notable outlier among major tokens was Zcash (ZEC), which rose 26% after Twitter comments from Barry Silbert, founder and CEO of investment giant Digital Currency Group.

Silbert, known for hinting at his potential next purchase, also tried to raise the price of Bitcoin on Wednesday before the recent rise.