"Bitcoin will break the record if it holds this level"

Cryptocurrency analyst Ali Martinez made a striking comment in light of recent developments in the price of Bitcoin (BTC).

Although the crypto market ended October, known as 'Uptober,' on a positive note, it made a scary start to November. The leading crypto, Bitcoin (BTC), managed to attract attention by rising to $73,620 on October 29. BTC set its sights on an all-time high.

Although it was thought that the uptrend would continue after October, expectations fell through. BTC has lost 4.26% in value since October 31.

Crypto analyst Ali Martinez expressed his expectations in the chart analysis he published on X. Martinez stated that BTC will face an important test.

The analyst's Bitcoin scenario is unfolding step by step

Ali Martinez gained attention with his Bitcoin (BTC) analysis published on October 26th. In this scenario, Martinez mentioned that BTC would reach the $72,000 level and then retreat to $69,000. After touching $73,620, BTC pulled back to $69,000.

Martinez emphasized that the analysis is working and stated that the next stage is $78,000. The analyst mentioned that the target will be achieved if the important support level of $69,000 is maintained.

So far, #Bitcoin is going according to plan!

After moving up to $72,000, $BTC is now testing the $69,000 support zone. If this level holds, #BTC could rise to $78,000! pic.twitter.com/W0OyNaoKw1

— Ali (@ali_charts) October 31, 2024

A user X asked Martinez, "What will happen if we can't protect 69 thousand dollars?" Martinez stated that if BTC loses its support level, it will fall to 64 thousand dollars.

It remains to be seen whether Martinez's prediction, which has proven to be correct, will come true.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.