Bitcoin (BTC) passed $66,000 again on October. 21 after fresh macro turbulence sparked a retest of previous all-time highs.

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

Evergrande fails to hold Bitcoin bulls back

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering from a dip to $64,000 overnight.

The move had come in step with a comedown in stocks, which were reacting to renewed concerns over Chinese holding behemothic Evergrande.

Withal, Bitcoin managed to preserve higher levels, resulting in just a brief trip below the $64,900 threshold, which had held as the BTC tape since April this year.

"Markets always become college than the majority expects. Probably what volition happen in coming months," a still bullish Cointelegraph contributor Michaël van de Poppe summarized to Twitter followers.

$75,000 next target

Wednesday, Oct. twenty, saw new all-time highs of over $67,000 after a squeeze took BTC/USD $3,000 college.

Related: Price analysis 10/20: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI

The monthly candle for October, analysts noted, is already larger than the entire Bitcoin all-time loftier from December 2022.

"BTC is testing its old ATH for support," Dutch crypto consultancy and education platform Viii wrote in its latest update on the twenty-four hour period.

"If we bounciness from here some levels to keep an center on are around 75k, 87k, and 96k, derived from recent price action using the Fibonacci retracement tool."
BTC/USD chart with Fibonacci levels. Source: Eight/Twitter

Equally Cointelegraph reported, Fibonacci is responsible for long-term BTC cost findings, which currently put the peak of this cycle'due south bull run at as much as $300,000. The trough, by contrast, could be anywhere from $47,000 to $60,000 — still an club of magnitude college than last cycle's $3,100 floor.