Bitcoin sees a new surge, because analysts say that BTC’s rise is “almost time”

Bitcoin (Bitcoin) Continued its pattern of sudden price spikes on November 24th, because the sudden momentum led to a brief breakthrough of $57,400.

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

Analyst: 2021 is still in line with the bullish pattern

Data from Cointelegraph Markets Pro with Transaction view Shows that BTC/USD fluctuated within a familiar range on Wednesday.

In the past 24 hours, the currency pair reached a high of 57,875 USD on Bitstamp, but due to the support of buyers, these prices did not stay for long Still weakened Close to the resistance level of $60,000.

In the generally flat market environment, some people took the opportunity to highlight the continuing similarities between 2021 and previous bull market years.

The popular Twitter account TechDev focuses on Fibonacci levels and Bitcoin’s behavior around them-this year, so far, in full compliance.

This analysis helps predict that the current cycle will reach around US$300,000.

exist Previous comment, TechDev agrees that Bitcoin’s Relative Strength Index (RSI) is “almost time” to see its own return, and prices follow.

At the same time, trader Pentoshi comfirmed It is believed that USD 60,700 should be recovered and held to plan a long position.

“So far, sellers seem to be weak at low points,” he told Twitter fans.

Zcash exceeds the top 10 cryptocurrency earnings

As Bitcoin played a cool game, altcoins saw a more decisive move on Wednesday.

related: Sandbox token SAND rose 260% in November before the launch of the game Earn Meta Festival

Ether (Ethereum) Rose 4.7% to $4,290 at the time of writing, the strongest performer among the top 10 cryptocurrencies by market capitalization.

ZEC/USD 1-hour candlestick chart (Coinbase). Source: TradingView

An obvious outlier in the main token is Zcash (Jersey), up 26% after Twitter Annotation Barry Silbert, founder and CEO of the investment giant Digital Currency Group.

Silbert is known for suggesting that he might make the next purchase, and he also tried to increase the price of Bitcoin before the most recent surge.