Cryptocurrency analyst Inmortal, Bitcoin 
$62,401He believes that the uptrend will strengthen if (BTC) convincingly regains a significant price level. Inmortal stated to his 216,500 followers on the social media platform called X that all eyes turned to Bitcoin after the price exceeded $ 63,000.
Bitcoin’s October Performance and Expectations
According to the analyst, if Bitcoin maintains its price level, it will experience further rallies. Inmortal stated that Bitcoin opened October at approximately $63,000.
Inmortal sees the possibility of following Bitcoin’s price action in December 2023. The price chart suggests that Bitcoin is on the verge of a major breakout after more than six months of sideways movement. In the analyst’s assessment, “October 2023 and 2024 exhibited similar movements after 200-day accumulation periods.” he said.
The analyst noted that Bitcoin is currently in the final stages of a consolidation and could experience a breakout like it did last year when BTC traded around $20,000.
Critical Resistance Zone
Inmortal said the pattern will be confirmed if Bitcoin successfully clears the resistance zone above $64,000. “A break above $64,000 would create a new all-time high.” he said.
Bitcoin rose to a 24-hour high of $64,458 yesterday, but the correction is trading at $62,485 at the time of next trading.
Bitcoin’s future movements are being carefully monitored by strategist Inmortal, while market participants are monitoring developments in breaking through key resistance levels.
If Bitcoin breaks critical levels, the overall sentiment in the cryptocurrency market is expected to move in a positive direction. These developments can create important signals for investors and affect the general dynamics of the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
