Bitcoin Erupts As Bulls Breach $65,000: Up Next All-Time Highs?

Bitcoin is up when writing, breaking above local resistance and trading beyond $65,000. The bull bar of September 26 has decent volume and is wide-ranging. Most importantly, there is engagement, and by the end of yesterday, prices were trading above the resistance established in the first half of this week. Technically, buyers are back in the equation. If buyers press on, riding on improving crypto sentiment, there is a high probability of prices soaring above $70,000 in the coming sessions. Of note is that the shifting monetary policy across the globe is a net positive for Bitcoin and crypto assets.

Traders are bullish, as is evident in the daily chart. The welcomed expansion of September 26 saw Bitcoin break above $65,000. As it is, Bitcoin is up nearly 3% in the past day and week. Meanwhile, the average trading volume is rising, soaring above $37 billion.

The following trending Bitcoin news events are worth watching:

• Rising crypto and Bitcoin prices also mean all spot Bitcoin ETFs issued in the United States are trading at new September highs. As the demand for the underlying asset increases, share prices will also increase in tandem.
• The spike above Bitcoin stretched Coinbase, briefly forcing the exchange offline. Often, glitches in the exchange happen when crypto, and especially Bitcoin prices, are pumping.

Bitcoin Price Analysis

BTC/USD is firm at press time.

As things are, the coin is within a bullish breakout formation.

Aggressive traders can double down, buying on dips.

How Bitcoin closes by today’s close will shape the medium term, building the base for a retest of $70,000 or higher.

Looking at the surging engagement and the wide-ranging bar of September 26, the probability of Bitcoin finally close above $72,000 for the first time in over three months is highly likely.

The ultimate target for traders is $74,000 or March highs.