đđMassive sales in Bitcoin (BTC): Could the decline deepen? đđ
Bitcoin (BTC) encountered major sales after testing $ 60,000 several times, which caused concern for investors and the market. The cryptocurrency leader Bitcoin, which has not yet seen the expected rise in altcoins, has started to give positive signals with technical indicators. It updated its price range by climbing above the Ichimoku cloud, and the Relative Strength Index (RSI) rose above 50 on a weekly basis.
Titan of Crypto, known for his technical analyzes, gave hope to his followers by analyzing the situation of Bitcoin on his X account. The analyst stated that the technical indicators in BTC have changed positively and drew particular attention to the RSI and the Ichimoku cloud. He emphasized that these two indicators are currently showing a positive trend and that the RSI has broken its long-standing downtrend.
At the time of writing, Bitcoin is trading at $ 58,500. BTC staying above $ 60,000 could strengthen bullish signals. However, it is important to maintain the $ 58,500 level; a move below this level could lead to increased selling and the news flow could be a reason to support this decline. Crypto investors need to follow both fundamental and technical analysis carefully during this process.
Positive expectations on the BTC price are currently linked to macroeconomic trend changes. One of the most important examples of these is the US Federal Reserve's expected interest rate cut on September 18.
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