BTC Rises to $29,000

Bitcoin (BTC) moved to its highest point in nine months, despite cryptocurrencies mostly consolidating ahead of the upcoming U.S. GDP report.

Following a low of $28,155.83 on Wednesday, BTC/USD raced to an intraday peak of $29,159.90 earlier in the session.

As a result of this surge in price, bitcoin climbed above the $29,000 level for the first time since June 10.

Bitcoin, Ethereum Technical Analysis: BTC Rises to $29,000 for First Time Since Last June
BTC/USD – Daily Chart

Looking at the chart, the move came as BTC briefly broke out of a resistance at $28,500, with the relative strength index (RSI) moving past a similar threshold.

As of writing, the index is tracking at the 65.27 level, which is marginally above its ceiling at 65.00.

Overall, BTC bulls have moved to secure some of their earlier gains, with the price now trading at $28,582.20.

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