{"id":51887,"date":"2024-10-26T01:39:52","date_gmt":"2024-10-26T01:39:52","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-bulls-btc-price-key-moving-averages-crypto-analysts-kraken"},"modified":"2024-10-26T06:52:07","modified_gmt":"2024-10-26T06:52:07","slug":"bitcoin-bulls-in-control-as-long-as-price-holds-above-66-5k-analysts","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51887","title":{"rendered":"Bitcoin bulls 'in control' as long as price holds above $66.5K: Analysts"},"content":{"rendered":"

Bitcoin bulls will keep the upper hand over bears as long as the price holds above $66,500, after the asset has positioned itself above \u201call key moving averages,\u2019 according to crypto analysts.<\/p>\n

\u201cThis breakout suggests that bulls are firmly in control, and as long as BTC remains above the $66,500 level, the trend should remain constructive,\u201d crypto exchange Kraken analysts opined in an Oct. 26 market report viewed by Cointelegraph.<\/p>\n

Bitcoin set to reclaim ATH if it continues \u2018upward movement\u2019<\/h2>\n

The analysts claimed that if Bitcoin (BTC) holds above this price level and the asset continues its \u201cupward movement,\u201d the next critical stage will be the $73,679 all-time high it reached in March.<\/p>\n

\u201cA successful break above this level would likely open the door for new price discovery and further upside momentum,\u201d they stated.<\/p>\n

At the time of publication, Bitcoin\u2019s price is $66,578, down 1.89% since Oct. 25, according to TradingView\u00a0data.<\/p>\n

\"Bitcoin
Bitcoin is trading at $66,578 at the time of publication. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

On Oct. 25, Bitcoin\u2019s price briefly slipped from $66,500 to $65,700, with crypto analysts attributing the dip to crypto industry uncertainty and escalating geopolitical tensions in the Middle East.<\/p>\n

\u201cBitcoin is possibly reacting to the Tether FUD earlier and now the war news on Israel and Iran,\u201d crypto trader Hardy claimed in an Oct. 25 X\u00a0post.<\/p>\n

Recent concerns over Bitcoin bearish engulfing pattern<\/h2>\n

On Oct. 25, Cointelegraph reported that the United States federal government is investigating stablecoin issuer Tether.\u00a0The Wall Street Journal reported\u00a0in an \u201cexclusive\u201d article on Oct. 25, citing \u201cpeople familiar with the matter.\u201d However, Tether CEO Paolo Ardoino called the story \u201cold noise.\u201d<\/p>\n

It\u2019s not the only sudden drop Bitcoin has seen over the past seven days. On Oct. 21, the analysts highlighted that Bitcoin showed a \u201cpotential bearish engulfing pattern, which may introduce some short-term caution.\u201d<\/p>\n

Cointelegraph recently reported that over the past seven months, each bearish engulfing pattern near a range high has been followed by a steep correction.<\/p>\n

Related:\u00a0<\/strong><\/em>4 reasons why Bitcoin price is not trading above $70K\u00a0<\/strong><\/em><\/p>\n

Bitcoin\u2019s price dropped 3.59% during the Oct. 21 trading day, sliding from $69,367 to $66,873.<\/p>\n

The analysts pointed to this alongside the relative strength index (RSI) \u2014 a technical analysis indicator that looks at the scale of recent price fluctuations to determine if Bitcoin is overbought or oversold \u2014 noting it is \u201ccoming off an overbought position.\u201d<\/p>\n

This signals that Bitcoin may face \u201csome temporary consolidation or a minor pullback,\u201d according to the analysts.<\/p>\n

Magazine:\u00a0<\/strong><\/em>The rise of Mert Mumtaz: \u2018I probably FUD Solana the most out of anybody\u2019<\/strong><\/em><\/p>\n

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

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Bitcoin bulls will keep the upper hand over bears as long as the price holds above $66,500, after the asset has positioned itself above \u201call key moving averages,\u2019 according to crypto analysts. \u201cThis breakout suggests … Bitcoin bulls 'in control' as long as price holds above $66.5K: Analysts<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51889,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3812,5652,10,159,97],"class_list":["post-51887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBitcoin bulls 'in control' as long as price holds above $66.5K: Analysts - 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=51887\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin bulls 'in control' as long as price holds above $66.5K: Analysts - 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