Bitcoin

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) retargeted $64,000 on Oct. 1 after the BTC price monthly close set a new September record.
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 <img alt="Bitcoin all-time high target remains as BTC price bounces back to $64K" name="" src="https://s3.cointelegraph.com/uploads/2024-10/01924716-48fb-7d80-8adc-129396e05e9a">
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 BTC/USD 1-hour chart. Source: TradingView
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<h2 id="br-btc-price-defies-rektember-with-7-gains"> BTC price defies “Rektember” with 7% gains </h2>
Data from <a data-ct-non-breakable="null" href="https://pro.cointelegraph.com/?via=markets&amp;_ga=2.173325223.503936973.1685953699-1136475544.1627545224" rel="null" target="null" text="null" title="null">Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="null" target="null" text="null" title="null">TradingView</a> showed BTC/USD rebounding after a brief trip below the $63,000 mark.
Coming in at $63,300, the September monthly close sealed BTC price gains of 7.3%, per data from monitoring resource <a data-ct-non-breakable="null" href="https://www.coinglass.com/today" rel="null" target="null" text="null" title="null">CoinGlass</a> — Bitcoin’s best-ever ninth month of the year.
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 <img alt="Bitcoin all-time high target remains as BTC price bounces back to $64K" name="" src="https://s3.cointelegraph.com/uploads/2024-10/0192470e-e405-7231-bf6e-e5a80981c5ab">
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 BTC/USD monthly returns (screenshot). Source: CoinGlass
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While failing to flip $65,000 to support after hitting it last week, bulls nonetheless retained a key mid-term trend line in the form of the 21-week simple moving average (SMA). 
According to Keith Alan, co-founder of trading resource Material Indicators, doing so was key to avoid “opening the door to a retest” of the range lows.
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 <img alt="Bitcoin all-time high target remains as BTC price bounces back to $64K" name="" src="https://s3.cointelegraph.com/uploads/2024-10/0192470f-e383-767a-940a-9586c5eda27b">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/KAProductions/status/1840878305249280341" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/KAProductions/status/1840878305249280341">Keith Alan</a>
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“Losing the 200-Day MA is not a good sign, but holding the 20-Week MA (for now) is. Losing them both would be a sign of weakness,” he <a data-ct-non-breakable="null" href="https://x.com/KAProductions/status/1840720070403637710" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/KAProductions/status/1840720070403637710">said</a> previously in a post on X.
Popular trader Daan Crypto Trades eyed changing <a data-ct-non-breakable="null" href="https://x.com/DaanCrypto/status/1840739121226203277" rel="null" target="null" text="null" title="null">order book liquidity</a>, this stacking at $62,700 and $67,000, marking support and resistance levels, respectively.
“Testing the Daily 200 Moving Average after breaking above it yet another tiime,” he <a data-ct-non-breakable="null" href="https://x.com/DaanCrypto/status/1840845069223674043" rel="null" target="null" text="null" title="null">continued</a>, agreeing with Alan.
<blockquote>
 “So far this year it has struggled to hold on to that level. Whether $BTC trades above or below is a good mid/high timeframe momentum and strength indicator.”
</blockquote>
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 <img alt="Bitcoin all-time high target remains as BTC price bounces back to $64K" name="" src="https://s3.cointelegraph.com/uploads/2024-10/01924710-ecae-7f28-84cf-d2a2432181ed">
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 BTC/USD 1-day chart. Source: Daan Crypto Trades/X
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On lower timeframes, fellow trader Roman was among those confident of upside continuation next.
“Some nice bull divs now forming on H4,” he <a data-ct-non-breakable="null" href="https://x.com/Roman_Trading/status/1840953739571839261" rel="null" target="null" text="null" title="null">told</a> X followers, referring to a bullish divergence between price and the relative strength index (RSI) indicator.
As <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/rsi-classic-btc-price-breakout-5-things-bitcoin-this-week" rel="null" target="null" text="null" title="null">Cointelegraph reported</a>, such scenarios often precede bullish BTC price performance.
“Expecting some upward movement /chop which will hopefully give us upwards consolidation instead of our 1D deviation,” Roman forecast.
<h2 id="bitcoin-dip-buying-plans-in-full-swing">Bitcoin dip-buying plans in full swing</h2>
Others suggested “buying the dip” as a suitable short-term strategy, despite progress so far fading beyond $65,000.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/new-all-time-high-uptober-5-things-bitcoin-this-week" rel="null" target="null" text="null" title="null">New all-time high in 'Uptober?' 5 Things to know in Bitcoin this week</a>
“Bitcoin officially made a higher high by closing above $65,000 — on the weekly as well,” trader, analyst and podcast host Scott Melker, known as “The Wolf of All Streets,” <a data-ct-non-breakable="null" href="https://x.com/scottmelker/status/1840727005710451055" rel="null" target="null" text="null" title="null">noted</a>.
<blockquote>
 “Now we look for dips to buy as it potentially establishes another higher low. Altcoins largely look the same, backtesting their own key breakout resistances as support.”
</blockquote>
<figure>
 <img alt="Bitcoin all-time high target remains as BTC price bounces back to $64K" name="" src="https://s3.cointelegraph.com/uploads/2024-10/01924711-ea5c-7b13-a5bf-dada34096ed0">
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 BTC/USD 1-day chart. Source: Scott Melker/X
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Crypto trader, analyst and entrepreneur Michaël van de Poppe meanwhile doubled down on his plan for a new Bitcoin all-time high to come.
“Took the liquidity above the recent highs, and is coming back down,” part of an <a data-ct-non-breakable="null" href="https://x.com/CryptoMichNL/status/1840723269013377069" rel="null" target="null" text="null" title="null">X post</a> read before the monthly candle completed.
<blockquote>
 “I think we're in a new uptrend, which means that dips are for buying. In that sense, if we get a retest at $60.5-61.3K, I'm interested before we test the ATH.”
</blockquote>
<figure>
 <img alt="Bitcoin all-time high target remains as BTC price bounces back to $64K" name="" src="https://s3.cointelegraph.com/uploads/2024-10/01924712-6e69-7310-a819-b2d3704f7762">
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 BTC/USDT 6-hour chart with RSI, volume data. Source: Michaël van de Poppe/X
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin all-time high target remains as BTC price bounces back to $64K

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