Reasons why #Bitcoin may see $60K before $70K

Bitcoin’s (BTC) price reclaimed a position above $62,000 for the first time since Aug. 1, after Federal Reserve chairman Jerome Powell delivered a dovish speech about potential rate cuts in September. 

After a 6% uptick on Aug. 23, BTC went on to re-test $65,000 twice but failed to illustrate a position of bullish strength on the 1-hour and 4-hour chart. 

While a sideways consolidation after a bullish breakout is considered positive, other signs indicate that Bitcoin may entertain another correction down to the $62,000-$60,000 range.