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Bitcoin price consolidation ‘could be over,’ says trader as Ethereum, Polkadot hit all-time highs

A sea of green among altcoins comes as BTC/USD preserves its own gains, which have taken it past $63,000.

Bitcoin (BTC) is in line for a continuation of its bull run, fresh analysis says, as BTC/USD retains its 2.2% daily gains.

Bitcoin price consolidation ‘could be over,’ says trader as Ethereum, Polkadot hit all-time highs

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

$62,500 eyed for BTC price bounce

As data from Cointelegraph Markets Pro and TradingView tracks Bitcoin’s best day for a week, confidence in higher levels is building.

Earlier Tuesday, Nov. 2, the largest cryptocurrency abruptly exited a sideways trading channel to add almost $2,000 in just over an hour. 

Amid calls of a potential breakout, popular trader Pentoshi believes that $62,500 may be buyers’ only chance to “buy the dip.”

“$BTC any pullback towards 62.5k is a great bid zone to add,” he advised Twitter followers alongside an accompanying chart.

Read more:  Law Decoded: The guard changes, and with it, the tweets, Jan. 8–15

Bitcoin de facto hit its “worst-case scenario” monthly close for October, thus remaining on course to see almost $100,000 by the end of this month.

New all-time highs for ETH and DOT

Bullish sentiment is also coming from a resurgent altcoin sphere.

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