Bitcoin?s breakout above $63,300 on Monday to all-time highs is ?constructive technically? and should see prices rise to $72,000 initially and then $77,600, according to FSInsight, a markets strategy and research firm.
FSInsight notes that bitcoin momentum isn?t overbought yet on daily or weekly timeframes.
A breakout in bitcoin?s market-cap dominance chart means it may outperform altcoins in the near term, FSInsight said. This ?represents a likely shift to higher market capitalization into bitcoin than altcoins in the near future.?
Bitcoin and ether cycles ?show upward progress into end of November before a peak in price that could persist into 2022,? FSInsight said.
Chainlink is also attempting to move above its recent price range, and FSInsight?s first target is $43.70 followed by $52.45.
A close in litecoin above $209.49 opens the way for a move to $259 then $295.60, according to FSInsight.
Bitcoin was trading about $67,600, ether $4,800, litecoin $250, algorand $1.97 and chainlink $35 as of publication time.