Bitcoin Surges Above Resistance Level, Eyes $70K Target

Bitcoin's price has surged nearly 2.7% in one day as it recovers from a recent $216 million sale by a strategy. The largest cryptocurrency is now trading above last week's high and nearing the key $65,543 resistance level.

Popular crypto trader Michael van de Poppe believes Bitcoin is gaining strength and doesn't expect the market to fall from here.

The daily BTC chart shows that Bitcoin has bounced from a recent descending trendline and is attempting to reclaim its 100-day moving average while holding above the $60,876 support zone.

If buyers keep control, the next major target sits around $65,500-$66,000, with a possible move toward the $70,000 level in the next one to two weeks.