Bitcoin has continued its upward trajectory, with the asset’s price exceeding $65,000 for the first time since early August.
At the time of writing, the digital gold is trading around $65,360.
The flagship’s rise has invigorated the rest of the market:
Ethereum lags slightly behind digital gold in growth over the past day, with 1.9% compared to 2.8%.
Among the top 10, Solana shows the best 24-hour performance with a 4.7% increase. The cryptocurrency is trading at around $157.
Renowned technical analyst Peter Brandt noted that a “convincing” close above the July peaks is required to break out of the sequence of lower highs and lows, as well as the six-month expanding triangle.
Bitcoin ($BTCUSD) continues to be in a sequence of lower highs and lower lows. Only a meaningful close above the Jul highs would change this sequence and official complete the 6-month expanding triangle pic.twitter.com/GaSBWZRoE6
— Peter Brandt (@PeterLBrandt) September 25, 2024
According to his chart, resistance levels of $70,162, $71,922, $72,762, and $73,666 will follow.
Earlier, analysts surveyed by The Block saw potential for a renewed Bitcoin rally.