Picked up momentum after crossing above $62,000 and is closing in on the $65,000 overhead resistance. According to the New York Digital Investment Group, Bitcoin remains the best-performing asset for the year despite the “seasonally weak” third quarter. Bitcoin has been sideways for several months but that has not stopped the Japanese investment company Metaplanet from building up its stockpile.

The firm announced on Oct. 7 that it had acquired 108.78 Bitcoin at an average price of about $63,600, taking its total to almost 640 Bitcoin. However, not everyone is bullish on Bitcoin in the short term. CoinShares said in its latest Digital Asset Fund Flows Weekly Report on Oct. 7 that digital investment products witnessed $147 million in outflows last week.

Bitcoin cleared the 20-day EMA ($62,382) hurdle on Oct. 6, indicating that the bulls are on a comeback. The BTC/USDT pair could rise to $65,000 and thereafter to $66,500. Sellers will try to defend this zone, but if the bulls have their way, the pair could rally to $70,000. Buyers may struggle to overcome the zone between $70,000 and $73,777. The essential support levels to watch on the downside are the 20-day EMA and the 50-day SMA ($60,696). A break and close below $60,000 will signal that the bulls are losing their grip. The pair could then descend to $57,500.

Ether has been consolidating inside the symmetrical triangle pattern for the past few days, indicating indecision between the buyers and sellers. If the price rises above the moving averages, the ETH/USDT pair could climb to the resistance line. This is an essential level for the bears to defend because a break above it could propel the pair to $3,400. There is resistance at $2,850, but it is likely to be crossed. On the contrary, if the price turns down sharply from the resistance line, it will signal that the pair may remain stuck inside the triangle for a while. The bears will have to sink the price below the uptrend line to start the next leg of the downtrend.

Lastly please check out the advancement’s happening in the cryptocurrency world

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