{"id":51804,"date":"2024-10-12T15:53:47","date_gmt":"2024-10-12T15:53:47","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/btc-price-sub-65k-hurdles-metric-bitcoin-rip"},"modified":"2024-10-13T05:21:09","modified_gmt":"2024-10-13T05:21:09","slug":"btc-price-eyes-sub-65k-hurdles-as-metric-hints-bitcoin-going-to-rip","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51804","title":{"rendered":"BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip'"},"content":{"rendered":"

Bitcoin (BTC) climbed to multi-day highs on Oct. 12 as markets mimicked last weekend\u2019s dubious upside.<\/p>\n

\"\"
BTC\/USD 1-hour chart. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

BTC price grills resistance below key barrier<\/h2>\n

Data from Cointelegraph Markets Pro and TradingView showed BTC price action nearing $63,500, up 1.5% on the day \u2014\u00a0similar behavior to the weekend prior.<\/p>\n

BTC\/USD made strong progress during the Oct. 11 Wall Street trading session after testing $60,000 support for much of the week.<\/p>\n

Attempting to catch up with United States equities, Bitcoin shrugged off new US inflationary pressures, even as markets reduced bets on the extent of future interest rate cuts.<\/p>\n

\u201cInitial low was swept & clearly inability to breakdown so naturally there\u2019s a reversion,\u201d popular trader Skew wrote in his latest coverage of 4-hour timeframes on X.<\/p>\n

Skew flagged relative strength index (RSI) scores above 50 and spot demand \u2014 key prerequisites for a \u201cmove up.\u201d<\/p>\n

\u201cMonthly & Weekly open are always pretty pivotal so very important for buyers to reclaim for another shot at $65K,\u201d he concluded.<\/p>\n

\"\"
BTC\/USDT 4-hour chart. Source: Skew\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

The monthly and weekly open levels correspond to $62,850 and $63,330, respectively, making the current spot price area a key battleground.<\/p>\n

Analyzing exchange order book liquidity, trading resource Material Indicators added two more nearby BTC price upside targets just below $65,000.<\/p>\n

\u201cFireCharts shows Bitcoin support stacking above $63k, and it looks like bulls want to challenge the 200-Day Moving Average,\u201d it told X followers, referring to one of its proprietary trading indicators.<\/p>\n

\u201cIf they are successful, clearing the 200-Day MA, they will attempt to R\/S flip Technical Resistance at the 2021 Mid-Cycle Top at $64.9k.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USDT order book liquidity for Binance. Source: Material Indicators\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

Despite the tenuous reliability of weekend BTC price gains, trader, analyst and entrepreneur Micha\u00ebl van de Poppe expected the good times to continue for bulls next week.<\/p>\n

\u201cBitcoin took the liquidity beneath $59.5k and quickly ran up,\u201d he summarized.<\/p>\n

\u201cProbably few days of consolidation, before next week is going to be significantly up. Breakout of $64k \/ $65k is the big breakout we’re looking for before new ATH tests and Altcoin runs are happening.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USDT 6-hour chart. Source: Micha\u00ebl van de Poppe\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

Stablecoin market cap boosts Bitcoin bull run hopes<\/h2>\n

An equally optimistic prediction came from Bitcoin analytics account Bitcoindata21, which uploaded a metric seen to be repeating bull market behavior.<\/p>\n

Related: <\/strong><\/em>BTC price gains ‘on horizon’ as Bitcoin whales buy 1.5M BTC \u2014 Analysis<\/strong><\/em><\/p>\n

The overall market cap of major US dollar stablecoins relative to Bitcoin, having spent months in a consolidation phase amid a broad downtrend, looked ripe to continue heading lower, a chart uploaded to X showed.<\/p>\n

\u201cThose trend lines are so clean,\u201d part of the accompanying commentary stated.<\/p>\n

\u201cOnce the purple line breaks to the downside, bitcoin is going to rip. Then wait for the downtrend to reverse (see yellow trend channels)… thats when the top is in!\u201d<\/p><\/blockquote>\n

\"\"
Stablecoin vs. Bitcoin market cap. Source: Bitcoindata21\/X<\/em><\/p>\n<\/figcaption><\/figure>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n

Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
\nSimply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
\nor Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) climbed to multi-day highs on Oct. 12 as markets mimicked last weekend\u2019s dubious upside. BTC\/USD 1-hour chart. Source: TradingView BTC price grills resistance below key barrier Data from Cointelegraph Markets Pro and TradingView … BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip'<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51805,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-51804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip' - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51804\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip' - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) climbed to multi-day highs on Oct. 12 as markets mimicked last weekend\u2019s dubious upside. BTC\/USD 1-hour chart. Source: TradingView BTC price grills resistance below key barrier Data from Cointelegraph Markets Pro and TradingView … BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip'Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=51804\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-12T15:53:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-13T05:21:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/10\/btcan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"753\" \/>\n\t<meta property=\"og:image:height\" content=\"499\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51804\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=51804\",\"name\":\"BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip' - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51804#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51804#primaryimage\"},\"thumbnailUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/10\/btcan.jpg\",\"datePublished\":\"2024-10-12T15:53:47+00:00\",\"dateModified\":\"2024-10-13T05:21:09+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51804#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=51804\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51804#primaryimage\",\"url\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/10\/btcan.jpg\",\"contentUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/10\/btcan.jpg\",\"width\":753,\"height\":499},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51804#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip'\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip' - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=51804","og_locale":"en_US","og_type":"article","og_title":"BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip' - EmilyNews","og_description":"Bitcoin (BTC) climbed to multi-day highs on Oct. 12 as markets mimicked last weekend\u2019s dubious upside. BTC\/USD 1-hour chart. Source: TradingView BTC price grills resistance below key barrier Data from Cointelegraph Markets Pro and TradingView … BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip'Read more","og_url":"https:\/\/emilynews.com\/blog\/?p=51804","og_site_name":"EmilyNews","article_published_time":"2024-10-12T15:53:47+00:00","article_modified_time":"2024-10-13T05:21:09+00:00","og_image":[{"width":753,"height":499,"url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/10\/btcan.jpg","type":"image\/jpeg"}],"author":"Emilynews","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Emilynews","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=51804","url":"https:\/\/emilynews.com\/blog\/?p=51804","name":"BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip' - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=51804#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=51804#primaryimage"},"thumbnailUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/10\/btcan.jpg","datePublished":"2024-10-12T15:53:47+00:00","dateModified":"2024-10-13T05:21:09+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=51804#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=51804"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=51804#primaryimage","url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/10\/btcan.jpg","contentUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/10\/btcan.jpg","width":753,"height":499},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=51804#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"BTC price eyes sub-$65K hurdles as metric hints Bitcoin 'going to rip'"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51804"}],"version-history":[{"count":2,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51804\/revisions"}],"predecessor-version":[{"id":51808,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51804\/revisions\/51808"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/51805"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}