Bitcoin bulls continue to enjoy weekend agains, with market cap signals indicating a potential resurgence of a classic bull run. On October 12, Bitcoin reached multi-day highs, following similar upward movement seen during the previous weekend.
BTC price approaches resistance below a key threshold.
Data from TradingView revealed that Bitcoin’s price was nearing $63,500, a 1.5% increase for the day. This mirrors its behavior from the weekend before. During Wall Street trading on October 11, BTC/USD saw significant gains after spending much of the week testing support around $60,000.
Bitcoin is catching up to U.S. equities, shaking off concerns about new inflation pressure despite a reduction in market bets on future interest rate cuts.
With monthly and weekly open levels at $62,850 and $63,330 respectively, the current price zone represents a critical area for a price movement. Analyzing liquidity in exchange order books, Material indicators identified two key upside targets for Bitcoin just below $65,000.
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