Bitcoin (BTC) Price Analysis: BTC Bulls Reclaim $60k, Which Altcoins Will Pump Next?

The recent Bitcoin downtrend has officially ended, signaling a potential shift in market momentum. As we examine the breakout, key price targets and support levels are coming into focus, along with critical resistance points that could shape Bitcoin's next moves.

The recent Bitcoin downtrend has ended, signaling a potential shift in market momentum. As we examine the breakout, key price targets and support levels are coming into focus, along with critical resistance points that could shape Bitcoin’s next moves.

Analyst Capo highlighted Bitcoin’s bullish momentum on his Telegram channel. Over the weekend, he noted that Bitcoin experienced minimal movement, with only a slight pullback. However, with Bitcoin reclaiming the $60,000 mark, more altcoins are beginning to surge, suggesting that the best may still be ahead for the crypto market.

If Bitcoin manages to reclaim the $62,000 level, which it appears to have done, we could see a rise to $69,000-$70,000. Should Bitcoin successfully surpass the $69,000-$70,000 range, the next target would be $75,000-$80,000. Despite some short-term pullbacks, which should be viewed as either buying opportunities or minor dips to ignore, the overall outlook remains positive.

The analyst noted, "$BTC reclaiming 60k, more altcoins are starting to pump. The best is yet to come. First bullish confirmation: clean reclaim of $62k = $69k-70k likely. Second bullish confirmation: clean reclaim of $69k-70k = Main target ($75k-80k) likely."

Meanwhile, analysis by More Crypto suggests that Bitcoin is gradually moving higher, breaking out of a triangle pattern. However, this breakout isn't fully convincing yet, so there's a chance Bitcoin could test support again before resuming its upward trend. This potential retest wouldn't disrupt the overall structure based on Elliott Wave theory but might lead to some adjustments in the short term.

The price is currently in what appears to be the third wave of an upward diagonal pattern. As long as Bitcoin holds above the key support level of $62,520, higher prices are still possible. If the bulls manage to push the price above $64,600, we could see a breakout leading to the next leg up. However, if Bitcoin drops below the support level, we may see a pullback before another rally attempt.

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