- Bitcoin price is continuing its ascent and will face the $62,944 resistance barrier next.
- Ethereum price has moved on from consolidating under one hurdle to another at $3,938.
- Ripple price flash crashes close to $1.01 support floor but recovers quickly, eyeing retest of $1.27.
Bitcoin price is not looking back as it breached the $60,000 psychological level. Ethereum mirrors the big crypto’s moves, but Ripple seems to be more volatile than the top two cryptocurrencies.
Bitcoin price remains strong
Bitcoin price has rallied a whopping 44% since October 1 and breached two psychological levels, $50,000 and $60,000. Despite this exponential upswing, the big crypto shows no signs of stopping as it currently trades around $62,330.
BTC will, however, face a minor resistance at $63,330 and its all-time high at $64,985. Therefore, a breach of these two barriers will open Bitcoin price up to a resistance-free path to venture into the discovery phase.
The 161.8% trend-based Fibonacci extension level at $77.525 is the next target for Bitcoin bulls if they manage to produce a decisive close above $64,985. This run-up would constitute nearly a 25% ascent and would set up a new all-time high.
BTC/USD 1-day chart
On the other hand, if Bitcoin price breaches $60,000 to the downside, it will put the uptrend on hold. In such a case, BTC might revisit the $57,300 support floor.
In dire cases, a massive sell-off could knock the big crypto to $55,370, where the buyers can make a comeback.