kyer

BTC/USD Updated October Price Targets

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Looking at Bitcoin ( BTC ) on the 4-hour time frame we can see pretty evidently that BTC is in the midst of starting its next leg upwards to soar beyond the local highs created this April. The bounce off of the 1.618 Fib level around the $41,337 was the surefire sign / indication of a bullish reversal, and from here Bitcoin has continued creating higher highs and higher lows, all the while backtesting levels of resistance and turning them into support.

At the moment, Bitcoin is wicking out the sell orders between the distribution range of $55,218 - $58,109 and I called those TP1&2 targets out on October 5th, you can check the attached read to this chart and press play. Anyways, now i’m updating my price targets and see Bitcoin reaching new highs by the end of this month, and if not going into early November. I have a gut feeling it is going to be a really good Q4 and Q1 2022 for Bitcoin and all the leading cryptocurrencies as now is the time period in the market cycle where the sentiment reverses back to bullish .

Moving forward, the take profit levels that i’m looking at for Bitcoin are:

TP1 🎯 $64,581
TP2 🎯 $68,361.69 (3.618 Fib level)
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