Bitcoin surged 6.15% on Nov. 10, reaching a fresh all-time high of $81,358, continuing its impressive momentum this week. Analysts are optimistic, suggesting that this rally is only the beginning and that Bitcoin’s upward journey still has substantial room to grow. The resilience of Bitcoin bulls, who have consistently held off bearish pressure, may have triggered another wave of short covering, driving the price beyond $80,000. Meanwhile, the Crypto Fear and Greed Index, which gauges sentiment across the crypto market, reached its highest “greed” reading in nearly seven months as Bitcoin crossed the $81,000 mark.
At the time of writing, BTC was trading at $81,430.
BTC, after making the all time high of $73,777, was trading in the ‘Descending Channel’ pattern. The asset gave a massive breakout above the channel and made a new all time high surging up to $81,730. On a daily time frame, BTC is trading in green, over the past seven days, and is forming a ‘Higher High Higher Low’ pattern. $73,750 and $70,000 will now act as a strong support level for the asset.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2. | |
| $70,000 | $73,750 | BTC | $85,000 | $97,500 |
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