Bitcoin rallies 36% since late June, breaking key moving averages and nearing a critical swing area at $80,560.
Bitcoin climbed $2,300, or 3.0%, to $79,765, reaching a daily high of $79,989. The move extends a 36% rally since bottoming at $57,735 in late June, driven by a shift in technical momentum.
The cryptocurrency recently broke above its 100-day ($66,113) and 200-day ($69,092) moving averages, reinforcing a bullish bias. It now approaches a key swing area at $80,560, with further resistance at $82,833 and $83,916, the 38.2% retracement of its all-time high decline.
A sustained break above $83,918 would signal stronger bullish momentum, while failure to hold could invite consolidation.