RSI hints at classic BTC price breakout — 5 things to know in Bitcoin this week
All eyes on the $65,000 prize
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The stars are aligning for BTC price action as traders pin hopes on the Bitcoin bull market finally returning.
Bitcoin starts the last week of September with a trip to one-month highs as the weekly close sets up a bullish market landscape.
Bitcoin (BTC) spiked to $64,700 after the weekly close, with analysis placing emphasis on $65,000 as the next resistance hurdle to beat.
Weekly relative strength index (RSI) signals call for further upside — arguably a fool-proof chart setup for Bitcoin bull runs.
Markets are digesting the United States Federal Reserve’s 0.5% interest rate cut, and the mood among risk assets is buoyant.
Bitcoin is fast approaching the bull market stage that traditionally sees the most rampant upside.
Sentiment is measured, with no clear signs of euphoria evident in the Crypto Fear & Greed Index.
All eyes on the $65,000 prize
A volatile weekly close saw Bitcoin bulls win out as a $4,400 weekly candle preceded new monthly highs.
Data from Cointelegraph Markets Pro and TradingView captured a trip to $64,700 for BTC/USD next before the pair retraced to consolidate around the weekly close level.
