A Breakout Above $65,000 Boosts Bitcoin’s Momentum

The price of Bitcoin (BTC) has surpassed the significant milestone of $66,000, marking a crucial point in its ongoing upward trajectory. This surge is largely attributed to the breakout above the psychological barrier of $65,000, which has proven to be a pivotal level of support and resistance for BTC in recent times.

Technical Analysis Indicators Suggest Continued Growth

Several technical analysis indicators are pointing toward further growth for Bitcoin. The Moving Averages Convergence Divergence (MACD) is showing an upward crossover, while the Relative Strength Index (RSI) has entered into overbought territory. These indicators suggest that the momentum behind BTC’s price increase will continue to drive it higher in the coming days.

Altcoins Follow Suit: Cardano and Avalanche Make Notable Gains

The altcoin market is also experiencing a surge, with several notable cryptocurrencies making significant gains. Cardano (ADA) has broken above the $0.40 overhead resistance level, completing a double bottom pattern. The target objective of this reversal pattern is set at $0.49, but bulls are likely to face stiff resistance at $0.45.

Avalanche’s (AVAX) tight consolidation near the breakdown level of $29 has resolved to the upside on Sept. 26. If buyers sustain the price above $29, the AVAX/USDT pair could rise to $33, which may act as a minor resistance.

Dogecoin and Shiba Inu Continue to Make Waves

Dogecoin (DOGE) turned up sharply from the 20-day EMA ($0.11) on Sept. 26 and rose above the nearest resistance level. The bears will try to stall the up move at $0.14, but if the bulls pierce the resistance, the rally could continue its northward march to $0.18.

Shiba Inu (SHIB) gained momentum after crossing above the immediate resistance of $0.000016 on Sept. 26. The SHIB/USDT pair continued its journey higher and broke above the breakdown level of $0.000020 on Sept. 27. If bulls can achieve a close above $0.000020, the pair could extend its rally toward $0.000029.

Investors Must Exercise Caution

It is essential for investors to remember that every investment and trading move involves risk. While these technical analysis indicators suggest continued growth for Bitcoin and other altcoins, they are not foolproof. Investors must conduct their own research and exercise caution when making a decision.

Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Technical Analysis Indicators:

• Moving Averages Convergence Divergence (MACD) shows an upward crossover.
• Relative Strength Index (RSI) has entered into overbought territory.
• Breakout above $65,000 confirms the northward march of BTC’s price.

Altcoin Market Gains:

• Cardano (ADA) breaks above $0.40, completing a double bottom pattern.
• Avalanche (AVAX) resolves to the upside on Sept. 26, with a target objective of $33.
• Dogecoin (DOGE) rises above nearest resistance level, with a potential rally to $0.18.
• Shiba Inu (SHIB) breaks above breakdown level of $0.000020, with a potential rally to $0.000029.

Investor Advisory:

• Every investment and trading move involves risk.
• Conduct your own research when making a decision.
• Exercise caution and do not invest more than you can afford to lose.