TechFlow news, according to Cointelegraph, Bitcoin (BTC) surged to around $68,000 at the opening of Wall Street on October 15, challenging an eight-month downtrend. Data shows BTC rose more than 2% on the day, approaching its 2021 peak of $69,000. Trader and analyst Skew said market structure and trends remain positive. He believes that if BTC can break above $69,000 and establish a higher high, it will trigger a broader structural shift. Skew also noted that the Relative Strength Index (RSI) has remained above 50, which typically signals rising prices.
Another analyst, Rekt Capital, confirmed that Bitcoin has broken through the resistance zone formed by its mid-August highs this year. He stated that BTC now needs to achieve a weekly close within the red resistance area to initiate a breakout move.
