Bitcoin Breaks $70,000 Amid Speculation of New Bull Run
- Bitcoin recently surpassed the $70,000 mark, raising questions about a potential new bullish phase.
- Technical analysis suggests Bitcoin is respecting a multi-year trendline connecting cycle lows from 2018 and 2022.
- Analyst CrypFlow highlights a key horizontal zone around $69,000 that previously acted as resistance in the 2021 cycle top.
- The Stochastic RSI indicator shows Bitcoin has been below zero for about 120 days, compared to longer periods in past cycles.
- CrypFlow predicts October 2026 could be pivotal for the next bull run if current trends hold.
With Bitcoin trading above $70,000, analysts are assessing whether this marks a new upward trend or part of an ongoing bottoming process. The cryptocurrency’s adherence to long-standing trendlines and previous resistance levels now acting as support are key factors in this analysis.
The Stochastic RSI’s shorter time below zero compared to previous cycles suggests that Bitcoin may still be forming its cycle bottom, with significant developments expected by October 2026. (Source)
