Bitcoin is going to be big this week, guys! 🚀 The market is predicting a 0.5% rate cut from the Federal Reserve, and Bitcoin is right at a critical resistance level. The volatility in the next few days could be pretty crazy!
1. Bitcoin faces the $60,000 mark
Bitcoin has had a tough start this week, currently hovering around $59,000, fighting for the $60,000 support level. Once this resistance is broken, our daily and weekly charts will become much more beautiful, and the trend is expected to reverse. Short-term bulls, keep an eye on this opportunity! 📈
2. The Fed is about to cut interest rates, and market expectations are highly volatile
The big drama this week is the Fed's decision to cut interest rates, and the market has begun betting on a 0.5% rate cut. Once confirmed, the interest rate decision will directly affect market sentiment, especially for risky assets such as Bitcoin. A rate cut will bring more liquidity, but don't forget that history tells us that there may be bigger economic problems hidden behind a large rate cut, such as the subprime mortgage crisis in 2008. 💥
3. Can the bulls fight back? Let the indicators tell
Bulls need to rely on key indicators this time, especially the relative strength index (RSI) and the suppression level of the Ichimoku Kinko Hyo. There is a slight improvement on the daily chart, but it will take more effort to break through the weekly resistance. The critical moment has arrived, and the possibility of a bullish reversal in the next few days is high. Are you ready? 💣
4. Altcoins are suppressed, and Bitcoin dominance rises
The ETH/BTC ratio has hit a two-year low, and ETH is under great pressure this time. Bitcoin's market capitalization has exceeded 58%, reaching a three-and-a-half-year high. It seems that Bitcoin still has the market dominance. What are you waiting for if you don't follow the trend? 🍀
5. The historical pattern is "perfectly reproduced"! Bitcoin's trend reappears the classic rhythm
Since the bear market low at the end of 2022, Bitcoin's performance has been similar to previous historical cycles, which is a "textbook" replica. As long as the macro environment remains unchanged, we are very likely to set new highs in October! Gold has already rushed, and Bitcoin may be the next rocket! 🚀
The Federal Reserve is about to cut interest rates, and market expectations are already hot. Bitcoin's performance this week is likely to determine the direction of the next trend. Keep an eye on the $60,000 mark. Once it breaks through, we will be ready to follow the next wave! 👀
