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Bitcoin price consolidation ‘could be over,’ says trader as Ethereum, Polkadot hit all-time highs

Bitcoin (BTC) is in line for a continuation of its bull run, recent evaluation says, as BTC/USD retains its 2.2% day by day positive factors.

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

$62,500 eyed for BTC worth bounce

As knowledge from Cointelegraph Markets Professional and TradingViewtracks Bitcoin’s finest day for every week, confidence in larger ranges is constructing.

Earlier Tuesday, Nov. 2, the biggest cryptocurrency abruptly exited a sideways buying and selling channel so as to add nearly $2,000 in simply over an hour.

Amid calls of a possible breakout, common dealer Pentoshi believes that $62,500 could also be consumers’ solely probability to “purchase the dip.”

“$BTC any pullback in the direction of 62.5k is a superb bid zone so as to add,” he advised Twitter followers alongside an accompanying chart.

“Seems to be as tho consolidation may very well be over and able to pattern once more.”

BTC/USD annotated chart. Source: Pentoshi/Twitter

With the Wall Road open across the nook, confidence is firmly evident amongst market contributors, with analyst TechDev calling for a march past all-time highs of $67,100.

Value evaluation 11/1: BTC, ETH, BNB, ADA, SOL, XRP, DOT, SHIB, DOGE, LUNA

Ether (ETH), the biggest altcoin by market capitalization, noticed a recent all-time excessive of $4,482 Tuesday, days after its earlier file.

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

The highest 10 cryptocurrencies by market cap have been led by Polkadot (DOT), up 15% on the day at $52 — itself an all-time excessive after its personal October rally.

Bitcoin de facto hit its “worst-case state of affairs” month-to-month shut for October, thus remaining on track to see nearly $100,000 by the top of this month.

New all-time highs for ETH and DOT

Bullish sentiment can also be coming from a resurgent altcoin sphere.

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