A crypto analyst, Ali Martinez, predicts Bitcoin will achieve a new all-time high in the coming months. He forecasts that Bitcoin may initially drop to $60,000, then rise to $66,000. Following this recovery, it might correct to $57,000 before surging to a record $78,000.
This projection is based on the descending channel pattern observed in the Bitcoin daily price chart, characterized by two key trendlines defining resistance and support levels. This pattern suggests potential for a bullish trend shift.
Ali Martinez recently updated his prediction, confirming Bitcoin's movement to $60,000 before bouncing back to $66,000. With a current price near $63,000 and recent fluctuations, Bitcoin remains poised for a breakout rally to $78,000, despite October's relatively subdued performance.
Overall, Bitcoin has shown resilience with a 5% increase over the past 24 hours, despite bearish pressures driving it down to $59,000 earlier. The crypto market eagerly awaits potential upward momentum in line with predictions.
