Bitcoin price analysts eyeing a $65,000 breakout this week: 3 indicators to watch

Van de Poppe emphasizes that although Bitcoin has already tested the $62,000 mark, there may be a short consolidation period of 1-2 days. This is a natural part of price action as bulls gather strength for the next rise.

“Bitcoin is consolidating and likely to retest around $61.5k-$62k before resuming its uptrend. The buildup is huge and a test of $64,000 could be the key to a breakout.”

– Michael Van de Poppe, trade analyst, October 13, 2024.

According to Van de Poppe, the key breakout level to watch is between $64,000 and $65,000. Once Bitcoin breaks above this range, the door opens for a new attempt to reach all-time highs (ATH).

Conclusion: Important levels to watch

Bitcoin's price action over the past week, combined with technical indicators such as the RSI, order book liquidity and moving averages, all suggest that a breakout above $65,000 is becoming increasingly likely.

While analysts like Skew, Material Indicators and Michaël van de Poppe offer slightly different perspectives, they agree on one key point: Bitcoin is in a bullish phase and the $65,000 mark is the crucial resistance it faces in the coming days needs to be overcome.

If Bitcoin breaks $65,000, the next targets could be new highs as long as bulls maintain the momentum seen in October. As the market develops, traders need to keep a close eye on these key indicators.