• Bitcoin (BTC) is once again facing rejection near the $65,000 mark, a key resistance to overcome. A positive sign for the bulls is that the classic Puell Multiple indicator for bitcoin has reached the green zone for the first time since the end of 2022.

Historically, after reaching the green zone, the price continues to rise, said CryptoQuant contributor Darkfast in his blog,

An analyst at Rekt Capital noted another historical pattern in favor of the bulls. According to him, #bitcoin is coming out of the re-accumulation range between 154 and 161 days after halving. The analyst added that bitcoin's last decline was 157 days ago on April 20, which is close to a breakout.

Farside Investors said that bitcoin-listed mutual fund buyers are coming back, as evidenced by four consecutive days of inflows. Bitfinex analysts said in a September 23 report that bitcoin could rally if traditional financial markets like the S&P 500 remain bullish and inflows into bitcoin ETFs remain positive.

Can bitcoin overcome the $65,000 resistance by attracting buying into individual altcoins? Let's analyze the charts of the 10 largest cryptocurrencies.

the last two days bitcoin is facing resistance at $65,000, but the positive sign is that the bulls have not made significant concessions to the bears.

the rising 20-day exponential moving average ($61,202) and the Relative Strength Index (RSI), which is in positive territory, indicate that the path of least resistance lies above. If buyers push prices above $65,000, the BTC/USDT pair is likely to accelerate to $70,000. Bears are expected to fiercely defend the $70,000-$73,777 zone.

If the bears want to prevent a rally, they will need to move prices below their moving averages quickly. If successful, the pair could fall to the support line.

Ether (ETH) reversed down from USD 2,702 on September 23, indicating that bears are selling near the USD 2,850 resistance line.

the ETH/USDT pair could fall to the moving average, which is an important level to watch.

The first support on the way down is the 20-day EMA (at USD 563).

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