A sea of green among altcoins comes as BTC/USD preserves its own gains, which have taken it past $63,000.2313Total views28Total sharesListen to article2:27


Bitcoin (BTC) is in line for a continuation of its bull run, fresh analysis says, as BTC/USD retains its 2.2% daily gains.

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

$62,500 eyed for BTC price bounce

As data from Cointelegraph Markets Pro and TradingView tracks Bitcoin’s best day for a week, confidence in higher levels is building.

Earlier Tuesday, Nov. 2, the largest cryptocurrency abruptly exited a sideways trading channel to add almost $2,000 in just over an hour. 

Amid calls of a potential breakout, popular trader Pentoshi believes that $62,500 may be buyers’ only chance to “buy the dip.”

“$BTC any pullback towards 62.5k is a great bid zone to add,” he advised Twitter followers alongside an accompanying chart.

“Looks as tho consolidation could be over and ready to trend again.”

BTC/USD annotated chart. Source: Pentoshi/Twitter

With the Wall Street open around the corner, confidence is firmly evident among market participants, with analyst TechDev calling for a march beyond all-time highs of $67,100.

Ether (ETH), the largest altcoin by market capitalization, saw a fresh all-time high of $4,482 Tuesday, days after its previous record.

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

The top 10 cryptocurrencies by market cap were led by Polkadot (DOT), up 15% on the day at $52 — itself an all-time high after its own October rally.

Bitcoin de facto hit its “worst-case scenario” monthly close for October, thus remaining on course to see almost $100,000 by the end of this month.