CandleFocus Bitcoin (BTC) Has to Reach This Level to Kickstart Bull Run
2024-09-14
Author: Content Editor
According to analyst Axel Adler, Bitcoin (BTC) is on track for a FOMO-driven bull run, with the price needing to reach $69,500 to trigger this phase. Adler suggests that this level will bring back sellers who previously missed out on profits, fearing to miss out on future gains. He points to historical data that indicates the sensitivity of this price level. However, there are concerns of an impending market storm, as Bitcoin's relative strength index (RSI) jumped over 70 for the first time in weeks, signaling potential overbought conditions. The current price of Bitcoin is $59,764, with a 3.3% increase and increased trading volume.
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