Bitcoin Hits New ATH, Crosses $73,800 as Trump Leads US Elections!

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Furthermore, it has surpassed the 100% Fibonacci level at the previous all-time high of $73,794. Furthermore, the growing bullish influence has led to a golden crossover between the 50-day and 200-day simple moving averages.

As the bullish influence grows, the 100-day and 200-day simple moving averages are on the verge of a positive crossover. Hence, the crucial simple moving averages are ready to regain the positive alignment. Amid the increased bullish momentum, the daily RSI line has crossed into the overbought territory, reflecting a boost in bullish momentum.

As the uptrend gains momentum, the 1.272 and 1.618 Fibonacci levels, respectively, paint the next resistance levels at $80,171 and $89,263.

Conversely, a potential retest of the previous all-time high near $73,800 is possible. However, the bull run will likely regain momentum with a post-retest reversal.

Trump Leads The US Elections

With Donald Trump leading the US elections, the overall crypto market sentiment boosted significantly. Furthermore, with BTC‘s price registering a new all-time high, the altcoins are marking double-digit gains. Hence, with Donald Trump’s victory inching closer, Bitcoin eyes $90,000.