At 18:46 UTC, Bitcoin, the top cryptocurrency by market capitalisation, momentarily crossed the $69,000 milestone on the Binance platform.
For the first time since late July, the cryptocurrency has been able to recover the previously indicated level.
Interestingly, Bitcoin has already increased by about 9% in “Uptober” despite a relatively poor start to the month.
A major rally on the cards?
According to well-known trader Josh Olszewicz, who is especially well-known for employing the “Ichimoku Cloud” training method, the price of Bitcoin has surged above the cloud following a bullish Tenkan Kijun (TK) cross on the three-day chart.
A huge 155% rise preceded the appearance of such a scenario in the fourth quarter of 2023.
A major resistance level ahead
According to U.Today, Mike Novogratz, the CEO of Galaxy Digital, recently forecast that Bitcoin may reach $100,000. The crypto king would need to break past the $73,000 barrier level, though, in order for this to occur.
