Bitcoin Eyes $86,960 as Strong Uptrend Continues
Bitcoin has rebounded strongly from its support level of $82,000, and according to analysts, it's likely to rise further towards the next resistance level at $86,960. This reversal is seen as a continuation of the strong daily uptrend in Bitcoin, with the cryptocurrency having already gained 42% this quarter.
The upward impulse wave 3, part of the intermediate impulse wave (3) from mid-September, is believed to be driving the current price action. The support level at $82,000 was a key area for Bitcoin, previously acting as strong resistance in May and September.
With the predominantly bullish crypto sentiment currently seen, analysts predict that Bitcoin will continue to rise towards the next resistance level of $86,960. However, it's essential to note that this is not investment advice, and individuals should conduct their own research before making any decisions.