Bitcoin has started the week on a positive note, with buyers pushing the price above the $69,000 overhead resistance. This signals that the up move remains intact. One of the reasons for Bitcoin’s strong performance has been solid buying in the United States Bitcoin exchange-traded funds.

In a post on X, Bitcoin analyst Alessandro Ottaviani said that the Bitcoin ETFs had witnessed $3 billion in inflows the last two weeks. Bitcoin whales seem to be using the sideways price action to accumulate more Bitcoin. A chart posted by research firm Santiment on X showed that the number of whale entities — wallets with 100 Bitcoin or more — had increased by 1.9% in the past two weeks.

Bitcoin has been gradually rising toward the overhead resistance of $70,000, signaling demand at higher levels. he upsloping moving averages and the relative strength index (RSI) in the positive zone suggest that buyers have the upper hand. The $70,000 level may act as a barrier, but it is likely to be crossed. That could push the BTC/USDT pair to $72,000, where bears are likely to sell aggressively.

The 20-day EMA ($66,452) is the vital support to watch out for on the downside. A break below this support will signal weakening bullish momentum. The bears will be back in the driver’s seat if they sink and sustain the pair below $65,000. Ether fell below the 50-day SMA ($2,504) on Oct. 25, but the bulls purchased the dip to the support line of the ascending channel pattern. The price has reached the 20-day EMA ($2,539), which is an important level to watch out for. If the price turns down from the 20-day EMA, the bears will try to sink the ETH/USDT pair below the support line. If that happens, the pair could decline to the $2,150 to $2,111 support zone.

Conversely, if buyers thrust the price above the moving averages, the pair will attempt a rally to the resistance line of the channel. The bears are expected to fiercely defend the breakdown level of $2,850.

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

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