Bitcoin price consolidation “could be over,” says Trader, as Ethereum and Polkadot hit all-time highs

Bitcoin (BTC) is poised to continue its bull run, new analysis says as the BTC / USD pair maintains 2.2% daily gains

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

The $ 62,500 level is being watched for the rebound in BTC price

With the data from Cointelegraph Markets Pro and TradingView tracking Bitcoin’s best day in a week, confidence rises at a higher level.

Tuesday morning November 2nd, the largest cryptocurrency abruptly left a secondary trading channel, adding nearly $ 2,000 in just over an hour.

Bitcoin price consolidation “could be over,” says Trader, as Ethereum and Polkadot hit all-time highs
Bitcoin price consolidation “could be over,” says Trader, as Ethereum and Polkadot hit all-time highs

ANDAmid predictions of a possible breakout, popular trader Pentoshi believes the $ 62,500 mark may be the only opportunity for buyers to “buy the dip.”

“$ BTC is a great bidding zone to add any pullback towards 62.5,000,” devices to Twitter followers along with an attached graphic.

“It looks like the consolidation is over and ready to be on trend again.”

Annotated chart of the BTC / USD pair. Source: Pentoshi / Twitter

With Wall Street open just around the corner, market confidence is firm and analyst TechDev is calling for a march above the all-time highs of $ 67,100.

Ether (ETH), The largest altcoin by market cap hit a new all-time high of $ 4,482 on Tuesday, days after its previous record.

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

The top 10 cryptocurrencies by market cap were led by Polkadot (DOT), which rose 15% over the day to $ 52, an all-time high after its own October rally.

Bitcoin de facto hit its monthly worst case scenario for October, so it stayed on track and hit nearly $ 100,000 by the end of that month.

New all-time peaks for ETH and DOT

The bullish sentiment is also coming from a resurgent altcoin sphere.

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