Bitcoin may be gearing up to move above $70,000 now it has reclaimed a critical level that traders have been closely watching for the past two months.
Bitcoin could be headed toward the $71,500 mark after breaching the $65,000 price point on Tuesday, based on historical patterns as observed by crypto traders.
The price rebound has also increased interest among future traders betting on Bitcoin’s near-term price movements.
“Breaking $65,000 would mean price would be ready to move inside the $65,000-$71,500 region,” pseudonymous crypto trader Rekt Capital wrote in a July 16 X post, when Bitcoin (BTC) was hovering just shy of $65,000.
