BTC/USD – New bullish momentum has pushed the pair above the 200-day moving average, which had been acting as resistance for the past two weeks

BTC/USD regained momentum on Monday, resuming its bullish trend from the October 10 low of 58,850 after a two-day pause.

The fresh push broke through the 200-day moving average (63,302), which had been capping gains for the past two weeks, rising about 3.5% during the Asian and European sessions.

Bulls cleared the 76.4% Fibonacci retracement level at 64,691 (from 66,495/58,850) and are now targeting the next pivot at 65,424, marked by a falling trendline and the upper boundary of a larger triangle. This level protects the key near-term barrier at 66,495, the September 27 peak.

The 14-day momentum indicator has turned positive, and moving averages have shifted into a bullish setup, supporting a favorable near-term outlook. However, potential resistance near the trendline may create headwinds, especially with the stochastic indicator in overbought territory.

A daily close above the 200DMA is seen as essential to keep the bullish momentum intact, with any limited pullbacks expected to find support above the 61.8% Fibonacci level at 63,575, offering better buying opportunities.

Res: 64959; 65424; 65975; 66495
Sup: 64000; 63575; 63302; 62673