Bitcoin (BTC) has seen heavy sales: Could the decline deepen?

#Bitcoin (BTC), which has faced selling pressure after testing $ 60,000 several times, has frightened investors and the market. The leader of cryptocurrencies, which has not yet brought the expected rise in altcoins, has given positive signals with technical indicators. The Ichimoku cloud, which provides information about the price range, has been exceeded. In addition, the Relative Strength Index (RSI), which gives clues about the strength of the price, has exceeded the 50 level on a weekly basis.

The Ichimoku Cloud is a popular indicator that shows support/resistance, trend direction and momentum. It provides a clearer view of price movements. Based on line intersections and where the price is relative to these lines, it can define the direction of a trend, the strength of the momentum and an opportunity signal for trading.

Titan of Crypto, known for his technical analyses, made his followers smile by performing Bitcoin analysis on his X account. Stating that the technical indicators in BTC have turned positive, the analyst especially bases his analysis on the RSI and the Ichimoku cloud. These two indicators are currently showing a positive trend. In addition, the RSI has broken the downward trend that has been going on for a long time.

As of the writing of the news, #BTC , which is trading at $ 58,500, will increase bullish signals if it holds above $ 60,000. $ 58,500 needs to be protected in order for the decline not to continue. If this level is lost, sales will increase. Even the news flow can be an excuse to support this decline. Crypto investors should follow both fundamental and technical analysis well during this process.

Positive perspectives on the $BTC price are currently revolving around macroeconomic trend changes. One of the most important examples of this is the US Federal Reserve expected to cut interest rates on September 18.
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