Bitcoin’s (BTC) price made a fresh all-time high above $66,000 on Wednesday and could continue higher as bullish momentum improves, price-chart indicators suggest.

A successful breakout would require a daily close above $65,000, which would yield upside targets toward $74,000 and $86,000.

The price of the world’s largest cryptocurrency by market capitalization has fully recovered from a near 50% correction earlier this year, which stabilized around the $30,000 support level. Since then, buyers responded to oversold conditions and continued to accumulate long positions, anticipating the stock’s value will rise over time.

The next level of resistance is seen at around $74,000, which could briefly stall the current rally. However, buyers will likely remain active above the $60,000-$65,000 support range given positive momentum signals on the weekly chart.

If support is held, BTC could see further upside toward $86,000, which is based on a measured move from the Oct. 1 breakout above the 200-day moving average.

The relative strength index (RSI) on the daily chart is the most overbought since February (current reading around 78), which preceded a brief price pullback. However, at that point, BTC continued to rally about 10% before hitting the April all-time high of $64,899, after which upside momentum slowed.

BTC will need to see continued buying pressure and a daily RSI reading above 50 to 60 to keep the current rally intact.


All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.

Recommended content


Recommended Content

Editors’ Picks

Mantle Price Forecast: MNT eyes 200-day EMA breakout for further gains 

Mantle Price Forecast: MNT eyes 200-day EMA breakout for further gains 

Mantle (MNT) edges lower by over 1% at press time on Tuesday after three consecutive days of gains, while the optimism holds in the derivatives market, reflected by heightened Open Interest.

Bonk Price Forecast: BONK rallies as OI hits yearly high, LetsBonk.fun tops Solana launchpad revenue

Bonk Price Forecast: BONK rallies as OI hits yearly high, LetsBonk.fun tops Solana launchpad revenue

Bonk (BONK) continues its bullish momentum, extending gains, trading around $0.000027 on Tuesday after rallying almost 20% the previous week.

Fed, OCC, FDIC issue joint guideline for banks safekeeping crypto assets for customers

Fed, OCC, FDIC issue joint guideline for banks safekeeping crypto assets for customers

The Federal Reserve (Fed), Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) issued a joint statement on Monday aiming to guide banks seeking to offer crypto safekeeping services to customers.

Top Crypto Gainers: XCN, PENGU, SUI – Hold momentum while Bitcoin slips under $119,000

Top Crypto Gainers: XCN, PENGU, SUI – Hold momentum while Bitcoin slips under $119,000

Bitcoin (BTC) takes a breather after hitting a record high of $123,218 on Monday, resulting in a pullback under $119,000 at press time on Tuesday.

Bitcoin: BTC hits new all-time high and enters price discovery mode

Bitcoin: BTC hits new all-time high and enters price discovery mode

Bitcoin price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates. The surge in BTC was supported by rising corporate and institutional demand, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday. 

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP