After an uneventful weekend with Bitcoin moving just 0.11%, Monday brought a dramatic shift as Bitcoin surged over $1,200, breaking back above its previous bull run's all-time high of $69k.
Bitcoin is now just 6% away from reclaiming its all-time high, with only a couple of strong green days needed to set a new record. All indicators point to a breakout soon, potentially pushing Bitcoin into blue sky territory. Our projections suggest Bitcoin could reach $88k in the coming months, with even higher targets over the next 12 months.
If you're concerned about missing out, don’t be. It's not too late (YOU ARE STILL EARLY). If you have long-term conviction in the crypto space, now remains a great time to enter. Contact your Stormrake Crypto Broker to take advantage of these golden opportunities.
Stormrake Spotlight: Sui ($2.15)
Stormrake Spotlight: Sui ($2.15)
Since we first highlighted Sui in the Stormrake Spotlight a week ago, the coin has risen by 15%. We remain confident that Sui will be one of the front-runners in the upcoming bull run. Check out our in-depth analysis of Sui HERE. Stay tuned for tomorrow’s edition, where we will introduce the next coin in the Stormrake Spotlight.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin is currently breaking above the monthly CPR resistance level at $69k, eyeing the next key resistance at $70.1k. Once Bitcoin closes above this resistance, it will flip into support. The 21 EMA has been providing strong support during this rally and is expected to continue doing so. At present, there is no bearish threat in sight.
BTC Total ETF Flows for 18 Oct: $ +273.7 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
ETH/USD Key Levels and Price Action:
ETH/USD Key Levels and Price Action:
Ethereum continues its bullish trend, bouncing off the 21 EMA for support as it pushes toward the next key level of $2,840. As long as Bitcoin stays in its uptrend, ETH is likely to follow suit, with the 21 EMA offering support and bounce regions.
ETH Total ETF Flows for 18 Oct: $ 1.9 million
(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
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Written by Alexandar Artis
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