CoinVoice has recently learned that according to Cointelegraph, when Wall Street opened on October 15, the price of Bitcoin (BTC) soared to around $68,000, challenging the downward trend of 8 months. Data shows that BTC rose by more than 2% that day, approaching the 2021 high of $69,000. Trader and analyst Skew said that the market structure and trend are still positive. He believes that if BTC can break through $69,000 to hit a higher point, it will trigger a larger structural shift. Skew also pointed out that the relative strength index (RSI) remains above 50, which usually indicates a rise in prices.
Another analyst, Rekt Capital, confirmed that Bitcoin has broken through the resistance zone formed by the mid-August highs of this year. He said that BTC now needs to achieve a weekly close within the red resistance level to initiate a breakout channel. [Original link]
