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“Follow this level in Bitcoin price”

Kraken analysts discussed the trend of Bitcoin (BTC) in a market report dated October 26.

According to analysts, as long as BTC remains above $66,500 continuously, the bulls will gain more strength and dominate the market. In question is the price level. “A zone above all major moving averages” was diagnosed as

In a market report published by analysts at crypto exchange Kraken, the following statements were included.

“This breakout shows that the bulls are firmly in control and the trend will remain bullish as long as BTC remains above the $66,500 level.”

Analysts make predictions about the price of Bitcoin.

Kraken analysts suggest that if the price of Bitcoin (BTC) sustains above $66,500, the next critical phase will be the March all-time high. On the date in question, BTC reached $73,700.

The report stated the following:

“A successful break above this level will likely open the door to new price discovery and further momentum.”

On October 25, the price of BTC briefly fell to $65,800. Although tensions in the Middle East put pressure on BTC, the tensions were contained within a short period of time. BTC rebounded to $67k as buying appetite returned.

Crypto analyst Hardy made the following statements in his X post on October 25.

“Bitcoin may be reacting to previous Tether news and now war news regarding Israel and Iran.”

Kraken analysts reported that the Relative Strength Index (RSI), which measures buying appetite in BTC, has lost its “overbought” position. The RSI level indicates a temporary stabilization after the recent decline.

This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.

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