Bitcoin bulls run risk of 'Bart Simpson' BTC price dip to $62K

Data from Cointelegraph Markets Pro and TradingView showed a flat weekend for BTC/USD after rapid gains at the end of the previous Wall Street trading session.

These followed promising signals from the United States Federal Reserve regarding policy easing in September, specifically the first interest rate cuts since 2019.

Bitcoin was initially slow to react but ultimately hit two-week highs of nearly $65,000 before consolidating lower.

Analyzing the potential moves for the coming days, however, popular trader CrypNuevo was cautious.

Order book liquidity, he determined in a thread on X, favored a drop to support which would liquidate late longs.

“The levels with more liquidations are $63.5k (1h50EMA) & $62.2k,” he summarized, referring to the 50-period exponential moving average on the 1-hour chart.