Blog

Different at this time? Bitcoin may be willing to follow gold to recording highs


Basic Points:

  • Bitcoin has to break $ 115,000 to confirm the reverse continuity.

  • The concerns around the CME Futures GAP are still seeing a backward $ 110,000 to come first.

  • Gold hits fresh record highs, but now, entrepreneurs think that Bitcoin is ready to follow.

Bitcoin (Btc) combined acquisitions on Tuesday as new all-time highs for gold focused attention on a copycat transfer of BTC.

BTC/USD one hour chart. Source: Cointelegraph/TradingView

BTC price tied to the level of $ 115,000 “Breakout”

Data from Cointelegraph Markets Pro and Tradingview BTC/USD showed up $ 113,000 after opening Wall Street.

The pair hit $ 114,842 overnight, marked the highest level since September 22 and the joys of BTC entrepreneurs forecasts.

“The $ BTC is developing a hidden bullish divergence today,” the famous businessman Cas Abbe told followers to one of his Latest posts in X, the Kamag -child is determined by the strength indicator (RSI) in sunny hours of time.

“Also, it is approaching an important level of resistance around the $ 115k level and a reclaim will confirm the breakout. Look at it.”

BTC/USDT a day chart with RSI data. Source: cas abbe/x

Crypto businessman, analyst and businessman Michaël Van de Poppe also saw an upward continuity after what he Called a “slight pullback.”

“As you can see, Bitcoin has ruined an important resistance to the zone and has a ton of up potential,” he reported next to a chart during the day.

BTC/USDT four -hour chart with RSI data. Source: Michaël van de poppe/x

The reservation still remained around the “gap” of the weekend in the CME group’s bitcoin futures market, which created a potential Downward price target at $ 110,000.

Entrepreneurs see high times of bitcoin while gold continues to get

The main point of conversation, however, is Bitcoin compared to gold while XAU/USD hits another time of $ 3,871 per ounce.

Related: Watch the three Bitcoin price levels earlier in the monthly near: Analyst

Xau/USD one day chart. Source: Cointelegraph/TradingView

Number Cointelegraph reportedFailure is running high as BTC price action failed to copy bullish performance of gold in recent weeks.

Today, market participants believe that the positive relationship between the two owners has remained.

Famous businessman Merlin Says That bitcoin is “following the gold script.”

“Gold: Shakeout with ATH. Bitcoin: Same integration -sa, same trap. The breakout is coded. Next Stop: Price Discovery Price,” part of an X post a day read.

BTC/USD compared to the comparison of gold. Source: Merlin the entrepreneur/x

Crypto analyst and businessman Ted Pillow calculated as eight weeks.

“Right now, gold is hitting new highs, which means Bitcoin will do it. Maybe we’ll see another correction, but the general Q4 will be great for Bitcoin,” he predicted.

Meanwhile, fellow businessman Road Crypto, agreed that the Bitcoin catch-up was a “thing of time.”

“Throughout this cycle, BTC & Crypto have had short spurs of huge outperformance, followed by long periods of integration -Is associated with $ gold and stock,” he said X followers.

“But in the end, the market has always tend to catch up and beyond.”

BTC/USD compared to the XAU/USD three-day chart. Source: road crypto trades/x

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.