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Заголовок Bitcoin (BTC) Price Reclaims $62K as Analysts Eye Upside Breakout
Дата 20240919

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Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Price Reclaims $62K as Analysts Eye Upside Breakout

Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Price Reclaims $62K as Analysts Eye Upside Breakout

Author: Martin Young

Last Updated Sep 19, 2024 @ 06:30

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin prices have reached their highest level since late August following
the United States Federal Reserve’s 0.5% interest rate cut.

BTC has gained almost 5% over the past 12 hours, topping $62,000 for the first
time in more than three weeks.

The asset climbed from an intraday low of $59,200 to tap $62,600 before
retreating slightly during the Wednesday morning Asian trading session.

In a post on X on Sept. 19, crypto analyst ‘Nebraskangooner’ called it a
breakout targeting the next resistance area at $63,500 to $64,000, where BTC
last visited but failed to breach on Aug. 25.

#Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin

Finally a breakout.

Should send us to $63,500-64,000 resistance area https://t.co/0HunuhRQRY
pic.twitter.com/TORPviznPb

— Nebraskangooner (@Nebraskangooner) September 19, 2024

BTC Approaching Resistance

Reflexivity Research co-founder Will Clemente eyed a ‘higher high’ targeting
the $65,000 level, which would validate the breakout and larger move to the
upside.

Shoutout to whoever just ripped BTC into the close

All eyes on $65k for a higher high pic.twitter.com/mTEBJ52QeA

Will (@WClementeIII) September 19, 2024

Meanwhile, analyst Willy Woo said there were lots of spot BTC being scooped up
in the medium term.

Exchange inventory accounting for derivatives remains flat, but this could
change quickly if we get a short squeeze,” he said before adding that the
chart pattern is forming a bull flag.

Current demand and supply is neutral bearish, but signs of moving into a
bullish structure if we get some liquidations. Cautiously optimistic.”

Trader “Bluntz” told his 274,000 X followers on Sept. 19 that markets were
about to rip in what will be the last macro leg higher before a new all-time
high.

dont fade this next $BTC ath rip, this will be the last macro leg higher, you
got about 3-4 more months to make as much money as possible.
https://t.co/Hqpfa28DvM pic.twitter.com/kZmO6D5we5

— Bluntz (@Bluntz_Capital) September 18, 2024

The post rate cut pump has been largely predicted but it remains to be seen
whether crypto markets can build upon this momentum over the weekend.

Economist Alex Krüger said that historically when the Fed begins its easing
cycle with no recession, equities have rallied 10% in six months, while if the
central bank begins the cycle in a recession, equities have fallen by 12%
before adding:

This is bullish for bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin as well, but its path is heavily dependent on who
wins the election.”

Elsewhere on Crypto Markets

Total market capitalization has gained $100 billion since the Fed rate cut
decision and has now settled at $2.24 trillion at the time of writing, its
highest level since late August.

Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum had reclaimed the $2,400 level after a 4.1% gain but was approaching
resistance levels. The asset, which has been weak while battling a wave of FUD
, still has a long way to go and needs to clear resistance just above $2,500.

The altcoins were predominantly green at the time of writing, with larger
gains for Solana (6%), Avalanche (9%), Bitcoin Cash• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin (10%), and Near Protocol
with 12% on the day.

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Tags: Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Price Federal Reserve

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