CandleFocus Bitcoin Indicator Signals ‘Shift To Bullish Territory’ – Can BTC Break Past $65,000?
2024-09-21
Author: Content Editor
Bitcoin has experienced a significant price surge following the Federal Reserve's interest rate cut announcement. Analysts are pointing to data indicating a potential shift in Bitcoin's trend, suggesting a return to bullish territory. The Market Value to Realized Value ratio is rising, signaling strength in Bitcoin. If the ratio can close above its 90-day moving average, it would confirm a stronger bullish outlook. Bitcoin is currently testing the critical daily 200 moving average, and a successful reclamation of this level could trigger a significant price surge. The next target for bulls would be around $65,000. However, failure to hold above $60,000 could result in a retracement to lower demand levels.
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