📊 $70K BITCOIN AS BULLS TAKE CHARGE! 🚀
almost!
🟢 BITCOIN BOUNCES BACK TO TEST FINAL RESISTANCE 💪
Bitcoin bulls received a last-minute boost, turning the weekly candle from red to green. At $68,265 on Bitstamp, BTC ended a hectic weekend on a high note, leading to new multi-week highs of $69,848, the highest since June 10. Traders are optimistic as Bitcoin approaches significant resistance just below March's all-time highs.
📉 US FEDERAL RESERVE INTEREST RATE DECISION LOOMS
This week, the Federal Reserve will announce changes to interest rates, with Chair Jerome Powell's comments poised to impact markets instantly. Additionally, US unemployment data, set to be released at the week's end, could spark further volatility in the crypto market.
🛠️ MINERS RECOVER AND MACRO SIGNALS FAVOR RISK ASSETS 📈
The outlook for Bitcoin looks promising on paper. Miners are recovering, macroeconomic signals are increasingly favoring risk assets, and traders are betting on the end of Bitcoin’s post-halving retracement. However, the potential for flash volatility remains.
TRUMP'S SPEECH AND STRATEGIC BITCOIN RESERVE 💬
US Presidential candidate Donald Trump's speech at the Bitcoin 2024 conference in Nashville has been a highlight. Trump, along with Robert F. Kennedy Jr., pledged to convert the 200,000 BTC confiscated by the US government into a strategic reserve if elected. Despite the excitement, BTC price saw a dip following the announcement, but traders like Daan Crypto Trades believe the "real move" is only just beginning.
🔥 FINAL RESISTANCE AND LIQUIDATION WATCH 🚨
Bitcoin's resistance remains formidable, with the nearest block of asks focusing on $70,400. Billions of dollars in shorts could be liquidated if the price spikes higher. The current focus is on whether Bitcoin can break through this resistance!
Stay tuned as Bitcoin gears up
#bitcoinprice #bitcoin #btc #cryptonews #crypto
