Bitcoin Weekly Analysis : Bullish Move Ahead? (READ THE CAPTION)

19 set

By analyzing the Bitcoin chart on the weekly timeframe, we can see that, based on the previous analysis, Bitcoin did not stabilize below the $57,870 level. After a short-term corrective wave, it was once again met with strong demand. Last night, following the announcement of a half-percent interest rate cut by the Federal Reserve, this cryptocurrency saw even more demand and managed to rise to $62,500. Now, we have to see if the price can break above $65,000 by the end of this weekly candle. It’s likely that Bitcoin and other altcoins will soon begin their main bullish wave, with Bitcoin's potential target in the mid-term being $80,000.

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Best Regards , Arman Shaban