đšIf the US market recovers and closes positive today, Bitcoin could also bounce back, as it's currently linked to the US market due to interest rate cut news. This positive trend might continue over the weekend until the market reopens on Monday. But if the US market stays negative and closes in the red, Bitcoin could face more pressure.đž $BTC
Next week the FED đșđž will cut interest rates possibly 25/50 BPS and this will be huge for Bitcoin and crypto market âïžâïžâïžâïž $BTC
In our previous update, we mentioned that BTC would first hit $58K and then retest $55.5K. BTC has followed our analysis exactly. The positive news is that BTC broken the 50-day moving average but managed to close the candle body above it.
As you can see in the chart, the 50-day moving average is now acting as support. BTC is gaining momentum and is currently trading above $58K. If BTC can hold the $58K level and form some candles above this, we could see it move to $60K, followed by $61.7K.
With BTC still above the 50-day moving average, we may be witnessing a reversal, which is also positive for altcoins. $BTC
đšJUST IN: BINANCE INDONESIA SUBSIDIARY TOKOCRYPTO SECURES PHYSICAL CRYPTO ASSET DEALER LICENSE IN THE COUNTRY ENABLING TOKOCRYPTO TO ENGAGE IN PHYSICAL CRYPTO ASSET TRADING $BTC