In September 2024, $BTC is trading within a range of $59,013 to $60,927, reflecting some consolidation after reaching highs earlier this year. The market is influenced by potential Federal Reserve rate cuts and increasing institutional investment. Despite a slight drop in trading volume, Bitcoin's market cap remains strong at $1.17 trillion.
By the end of 2024, after reaching an all-time high in March, the approval of Bitcoin ETFs, the upcoming Halving, and advancements in layer 2 technologies, the outlook for Bitcoin is promising. With growing adoption, its value could continue to rise, potentially reaching $71,831 by the end of 2024.
To analyze the $BTC pair over the next three months, we will use the D1 timeframe. First, we will examine the readings of the SMA and RSI indicators. The image shows that the price is above the moving average, while the RSI is at 58.50, suggesting the price may soon attempt to break the $71,831 resistance again.
