Analyst: Bitcoin has broken through the mid-August high resistance zone, and a breakthrough of $69,000 will trigger a structural change

ChainCatcher news, according to Cointelegraph, on October 15, Bitcoin (BTC) price surged to around $68,000 at the opening of Wall Street, challenging an 8-month downtrend. Data shows that BTC rose over 2% that day, approaching the 2021 high of $69,000. Trader and analyst Skew stated that the market structure and trend remain positive. He believes that if BTC can break through $69,000 to set a higher high, it will trigger a broader structural change. Skew also noted that the Relative Strength Index (RSI) remains above 50, which typically indicates a price increase.

Another analyst, Rekt Capital, confirmed that Bitcoin has broken through the resistance zone formed by the mid-August high this year. He stated that BTC now needs to achieve a weekly close within the red resistance level to initiate a breakout rally.