Bitcoin rallied to $66,300 on Oct. 14, but definitive proof of a structural trend change remains in question.
Bitcoin price opened the week with a strong push to $66,300, but will bulls be able to maintain the current momentum?
For the past seven months, a majority of Bitcoin (BTC) price rallies have been capped at overhead resistance, most recently the $65,000–$66,000 level where the price has yet to secure a daily close.
Oct. 14’s price rally puts Bitcoin in a similar scenario where the descending channel’s trendline was briefly breached, but it’s yet to be determined if BTC will close the day firmly above the channel resistance.
