Bitcoin (BTC) Gearing Up to Reach a New All-Time High (ATH) If It Can Break Above $64k Resistance Zone, Crypto Analyst Says

In a new strategy session, pseudonymous crypto trader Inmortal tells his 216,300 subscribers on the social media platform X that if the top crypto asset

Cryptocurrency trader Inmortal believes that Bitcoin (BTC) is set to reach a new all-time high if it manages to break above a key resistance level.

According to the analyst, a breakout above the $64,000 price point will propel BTC to a new all-time high.

“Breakout above $64,000 = New ATH.”

The trader also notes that the recent dip in the top crypto asset’s price, which saw BTC drop from around $66,000 to $60,000 from September 29th to October 2nd, “feels” like it's forming a local bottom.

He adds that he is only interested in going long on BTC in two spots – either around the $60,000 level if BTC shows a swing failure pattern (SFP) – a reversal indicator that sees an asset's price briefly cross prior highs or lows – or if it finds acceptance above $63,000.

Meanwhile, another popular crypto analyst, Kaleo, believes that the crypto king will still dip to around the $57,000 or $58,000 price point before ultimately reversing course.

According to the analyst, BTC will grind higher during the next month until the presidential election is over, then it will “full send.”

“Bitcoin. Still looking like a quick little chop to $57,000 or $58,000, followed by a grind higher the rest of the month into a full send post election.”

Kaleo also notes that even though BTC could head lower, traders should not let that stop them from accumulating during this dip.

At the time of writing, Bitcoin is trading at $61,948, up 2.1% in the past 24 hours.

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