🚀 Bitcoin is poised to take off: Traders eye $68,000!
💡 Bitcoin could be on the verge of a big move! If it can hold the $64,000 mark, traders predict it could quickly climb to $68,000. Mister Crypto noted in his analysis video that once this psychological barrier is breached, the price of Bitcoin could return to $68,000, a level we haven’t seen since July 30.
📊 Currently, Bitcoin is inching closer to its 2021 all-time high of $68,991, which has become a milestone that investors are watching closely for 2024. Data from CoinMarketCap shows that the price of Bitcoin is already just above $64,245.
🔍 However, Bitcoin has been struggling a bit at the $64,000 level over the past few weeks. On August 23, it finally broke through this mark for the first time in 20 days, but the good times did not last long, and the price soon fell back to $63,500. Today, the price of Bitcoin is at the $64,000 mark again. $BTC
📉 In addition, at the#JackHallAnnual Meeting the day before yesterday, the speech by Federal Reserve Chairman Powell seemed to have injected a shot of adrenaline into the market. Although he did not announce a clear timetable for rate cuts, it was enough to excite the Bitcoin market.
🔄 Looking back a few months after the Bitcoin ETF was approved on January 11, $64,000 was a key support level for Bitcoin. But the big drop on August 5 changed everything, and this price level has now become a resistance level that Bitcoin needs to overcome.
📊 Mister Crypto reminds investors that Bitcoin may not fluctuate much in the short term and is expected to consolidate around the current level.
🐂 Meanwhile, trader Elja notified his X followers that bulls are gaining momentum and now is the perfect time to push Bitcoin into the $68,000 to $70,000 range. The reason is that Bitcoin's RSI indicator shows that the market is not overbought yet, and the current RSI is 66.11, far below the overbought threshold of 70.
👇 Do you think Bitcoin can quickly break through the $68,000 mark in the short term? Welcome to share your insights in the comment section and join us in the discussion!