Federal Reserve Chairman Jerome Powell has hinted at cutting interest rates next month, sparking a bullish reaction in Bitcoin. The cryptocurrency is now trading around $61,524.92, with a clear path to $65,000.
_Key Indicators:_
- Moving Averages: Price above 50-day and 100-day SMAs, approaching 200-day SMA
- Double Bottom: Bullish reversal indicator appeared at $59,000
- MACD: Bullish signals with positive histogram
- RSI: Showing strength at 62.20, with room for further growth
_Market Analysis:_
- Powell's speech at Jackson Hole signaled a shift in monetary policy
- Interest rate cuts expected to boost Bitcoin's momentum
- Strong support levels and bullish indicators suggest a clear path to $65,000
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