 Bitcoin all-time high target remains as BTC price bounces back to $64K 
2024-10-01

Bitcoin BTCUSD retargeted $64,000 on Oct. 1 after the BTC price monthly close set a new September record.


BTC price defies “Rektember” with 7% gains 
Data from Cointelegraph Markets Pro and TradingView showed BTCUSD rebounding after a brief trip below the $63,000 mark.
Coming in at $63,300, the September monthly close sealed BTC price gains of 7.3%, per data from monitoring resource CoinGlass — Bitcoin’s best-ever ninth month of the year.
While failing to flip $65,000 to support after hitting it last week, bulls nonetheless retained a key mid-term trend line in the form of the 21-week simple moving average (SMA). 
According to Keith Alan, co-founder of trading resource Material Indicators, doing so was key to avoid “opening the door to a retest” of the range lows.
“Losing the 200-Day MA is not a good sign, but holding the 20-Week MA (for now) is. Losing them both would be a sign of weakness,” he summarized previously in a post on X.
Popular trader Daan Crypto Trades eyed changing order book liquidity, this stacking at $62,700 and $67,000, marking support and resistance levels, respectively.
“Testing the Daily 200 Moving Average after breaking above it yet another tiime,” he continued, agreeing with Alan.

On lower timeframes, fellow trader Roman was among those confident of upside continuation next.
“Some nice bull divs now forming on H4,” he told X followers, referring to a bullish divergence between price and the relative strength index (RSI) indicator.
As Cointelegraph reported, such scenarios often precede bullish BTC price performance.
“Expecting some upward movement /chop which will hopefully give us upwards consolidation instead of our 1D deviation,” Roman forecast.
Bitcoin dip-buying plans in full swing
Others suggested “buying the dip” as a suitable short-term strategy, despite progress so far fading beyond $65,000.
“Bitcoin officially made a higher high by closing above $65,000 - on the weekly as well,” trader, analyst and podcast host Scott Melker, known as “The Wolf of All Streets,” noted.

Crypto trader, analyst and entrepreneur Michaël van de Poppe meanwhile doubled down on his plan for a new Bitcoin all-time high to come.
“Took the liquidity above the recent highs, and is coming back down,” part of an X post read before the monthly candle completed.

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.