Bitcoin (BTC) rebounded toward key resistance on Sept. 26 as markets awaited fresh United States macro data.
BTC/USD 1-hour chart. Source: TradingView
BTC price bull signals line up
Data from Cointelegraph Markets Pro and TradingView confirmed 2% BTC price gains on the day after bulls rescued a dip to $62,700.
Still pinned below a wall of ask liquidity at $65,000, BTC/USD nonetheless showed signs that upward momentum could continue.
âSystematic uptrend still holds,â popular trader Skew summarized in part of his latest content on X.
Skew named three essential factors now present on 4-hour timeframes: price trending with exponential moving averages (EMAs), the relative strength index (RSI) measuring more than 50 and spot buyers bidding.
âGoing to have to see some strong spot flow going into end of week to resolve upwards,â he concluded.
BTC/USDT 4-hour chart. Source: Skew/X
While opinions on the marketâs ability to break through resistance were mixed, long-term perspectives remained positive.
Fellow trader Daan Crypto Trades described BTC/USD as being in a â$65,000 waiting room.â
âEven if BTC ends up sweeping 65K and rejecting, which wouldnât be great, it would still make sense to at least sweep the level for liquidity purposes,â he argued.Â
âThe longer we trade below it though, the more likely I think it is we hold it if it breaks.â
An accompanying chart showed Bitcoin in the process of reclaiming its 200-day moving average, a trendline barely interacting with spot price since July.
BTC/USD 1-day chart. Source: Daan Crypto Trades/X
Bitcoin faces new âkey macro eventsâ
Markets were poised to digest US Q2 GDP data, along with initial jobless claims, these accompanied by speaking appearances by senior Federal Reserve officials including Chair Jerome Powell.
Powellâs dovish tone had previously set the scene for US financial policy easing in the form of interest rate cuts, this now being repeated by central banks worldwide.
As Cointelegraph reported, traders see the resulting liquidity influx as highly cathartic to risk-asset price performance, including Bitcoin and altcoins.
âKey macro events to watch today include the U.S. GDP reading and Fed Chair Powellâs comments,â trading firm QCP Capital told Telegram channel subscribers on the day.Â
âThe market will be following Powellâs speech closely for indications of any shifts in sentiment following last Thursdayâs FOMC press conference, which signaled potential for further easing.â
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