Bitcoin has started the week on a bullish note, clearing the closely watched $65,000 overhead resistance with ease. This indicates that the bulls are back in the game and ready to challenge the next resistance at $66,500. October has historically been the most bullish month for Bitcoin, and the Oct. 14 rally has pushed the monthly gains to 4%.

That has triggered hopes that the worst may be behind us. Analysts expect Bitcoin to pick up momentum if it clears the $70,000 overhead resistance. CoinShares’ Digital Asset Fund Flows Weekly Report on Oct. 14 shows that Bitcoin investment products witnessed inflows of $419 million.

Sellers tried to pull the price below the 20-day EMA ($62,500) on Oct. 13, but the bulls held their ground and started a strong rally on Oct. 14. The BTC/USDT pair is facing resistance at $66,500, but if buyers do not allow the price to remain below $65,000, the likelihood of a breakout will increase. The pair could then swiftly rise to $70,000. Sellers are expected to fiercely defend the zone between $70,000 and $73,777.

Time is running out for the bears. If they want to make a comeback, they will have to drag the price back below the moving averages. If they do that, the psychologically critical support at $60,000 may be tested. After several failed attempts, Ether finally broke above the moving averages on Oct. 14, indicating advantage to buyers. The ETH/USDT pair has reached the resistance line of the symmetrical triangle, where sellers will try to halt the up move. If buyers overcome the resistance, the ETH/USDT pair could rise to $2,850 and thereafter to $3,400.

On the contrary, if the price turns down sharply from the resistance line and breaks below the moving averages, it will signal that bears remain sellers on rallies. That could keep the pair inside the triangle for a few more days.

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

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