As the price of Bitcoin approaches the $60,000 barrier, optimism around the coin is growing since it indicates possible for a notable breakthrough. As of September 15, Bitcoin (BTC) has jumped 9% week-to–date; analysts note rising positive momentum.
Driving this fresh confidence on short-term charts are important markers. Popular trader Titan of Crypto claims that after difficulty keeping support levels, Bitcoin’s daily chart has recaptured important levels.
Bitcoin Signals Bull Run Strength
Posting on X (previously Twitter), the trader underlined the Kumo Cloud—key signals from the Ichimoku cloud indicator—which has been crucial in Bitcoin’s bull run over the past 18 months—as well as the comeback above the Tenkan and Kijun trend lines.
Furthermore showing increasing strength is BTC Relative Strength Index (RSI), which has returned the crucial 50 threshold on daily and weekly timesframes. Titan of Crypto pointed out that the RSI has also deviated from a multi-month trendline, therefore supporting the favorable view.
Moreover boosting Bitcoin’s possible ascent are more general macroeconomic dynamics. The expected interest rate drop on September 18 by the U.S. Federal Reserve captures market attention since it may increase risk assets like cryptocurrencies even more. Markets are totally expecting a drop in the highest rates observed in almost 25 years, even if the precise extent of the fall is still under question.
Advising both short-term uncertainties and long-term positive scenarios, trading company QCP Capital has advised that locking in yields ahead of the rate decrease could be a wise move for traders. Analysts are hopeful about BTC price path in the next weeks despite likely temporary turmoil.
