Bitcoin price consolidation ‘could be over,’ says trader as Ethereum, Polkadot hit all-time highs


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Bitcoin (BTC) is in line for a continuation of its bull run, contemporary evaluation says, as BTC/USD retains its 2.2% each day positive factors.

BTC/USD 1-hour candle chart (Bitstamp). Supply: TradingView

$62,500 eyed for BTC value bounce

As knowledge from Cointelegraph Markets Pro and TradingView tracks Bitcoin’s finest day for per week, confidence in greater ranges is constructing.

Earlier Tuesday, Nov. 2, the most important cryptocurrency abruptly exited a sideways buying and selling channel so as to add nearly $2,000 in simply over an hour. 

Amid calls of a possible breakout, well-liked dealer Pentoshi believes that $62,500 could also be patrons’ solely likelihood to “purchase the dip.”

“$BTC any pullback in the direction of 62.5k is a superb bid zone so as to add,” he advised Twitter followers alongside an accompanying chart.

“Appears to be like as tho consolidation might be over and able to development once more.”

BTC/USD annotated chart. Supply: Pentoshi/Twitter

With the Wall Avenue open across the nook, confidence is firmly evident amongst market individuals, with analyst TechDev calling for a march past all-time highs of $67,100.

Associated: Price analysis 11/1: BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE, LUNA

Ether (ETH), the most important altcoin by market capitalization, noticed a contemporary all-time excessive of $4,482 Tuesday, days after its earlier file.

ETH/USD 1-hour candle chart (Bitstamp). Supply: TradingView

The highest 10 cryptocurrencies by market cap have been led by Polkadot (DOT), up 15% on the day at $52 — itself an all-time excessive after its personal October rally.

Bitcoin de facto hit its “worst-case situation” month-to-month shut for October, thus remaining heading in the right direction to see nearly $100,000 by the top of this month.

New all-time highs for ETH and DOT

Bullish sentiment can be coming from a resurgent altcoin sphere.