CandleFocus Fed Rate Cut Fuels Bitcoin Price: Can BTC Price Surge Above $65K This Week?
2024-09-24
Author: Content Editor
Bitcoin's price has been steadily recovering and has reached key resistance levels, but faces strong resistance at $64K. A breakout above this level could lead to a new all-time high. Miners reducing selling pressure suggests a potential rally as supply tightens. VirtualBacon warns that despite Bitcoin's recent surge, it remains in a choppy range and $65K is the key level to watch for a confirmed uptrend. He also suggests a cautious trading strategy, holding spot positions and avoiding leverage. The unemployment rate will be crucial in determining the potential for a recession. Lower rates by the Fed and upcoming economic data may impact market volatility.
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