Four popular cryptocurrency analysts have reiterated their bullish stance on Bitcoin BTC/USD even as the apex cryptocurrency fell on Monday night.
What Happened: Kaleo, a pseudonymous technical analyst, told his more than 419,000 followers on Twitter that Bitcoin is about to enter price discovery and will rise to the $70,000 level this week.
Bitcoin to $70K this week
— K A L E O (@CryptoKaleo) October 31, 2021
Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe said he is expecting a “bull cycle” for Bitcoin until April or May of 2022.
He believes Bitcoin will see continuation towards the all-time high region if its breaks above the $64,000 range.
See Also: How To Buy Bitcoin (BTC)
Justin Bennett, a cryptocurrency analyst and trader with 86,000 Twitter followers, believes that Bitcoin will start outperforming again shortly. He noted that a 2017 Bitcoin fractal has been accurate since June.
The 2017 $BTC fractal has been accurate since June.
— Justin Bennett (@JustinBennettFX) November 1, 2021
Currently shows $80kish in the next two weeks, followed by a mid-November pullback to $65k. Then $100k+ in December.
Let's see. #Bitcoin pic.twitter.com/54RmtBPlGj
The fractal shows Bitcoin rising to the $80,000 level in the next two weeks, followed by a pullback to the $65,000 range in November. The cryptocurrency is then predicted to rise to the $100,000 range in December.
Another closely-followed pseudonymous cryptocurrency trader Pentoshi told his almost 338,000 followers on Twitter that Bitcoin has support in the $58,000 range. He predicts a price discovery for the cryptocurrency this week.
GM$BTC continues to hold that important 58k area
— Pentoshi Won’t Dm You. hates Dm’s. DM's are scams (@Pentosh1) November 1, 2021
Weekly low is likely already in and I'd guess price discovery this week based off that retest we had early pic.twitter.com/EvdXrxMofc
Why It Matters: Bitcoin, the largest cryptocurrency by market capitalization, is currently down 7.8% from its all-time high of $66,930.39 touched on Oct. 20.
The apex cryptocurrency’s year-to-date gains stand at 110.02%.
Price Action: Bitcoin is down 0.6% during the past 24 hours, trading at $61,692.90 at press time.
Read Next: Burger King Teams Up With Robinhood To Give Bitcoin, Ether, Dogecoin Rewards
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