Bitcoin surges 2% approaching ATH levels 📈

Key takeaways

Bitcoin surges on weakening US dollar and positive sentiments on Wall Street

Markets expect that Fed will cut rates in October

Key takeaways

Bitcoin surges on weakening US dollar and positive sentiments on Wall Street

Markets expect that Fed will cut rates in October

Bitcoin’s price has climbed above $122,000 today and is approaching a key resistance level near $123,000, a zone that has previously triggered two selling waves. Recently, Bitcoin rebounded from the 200-day EMA around $108,000 and formed a double-bottom pattern, which supports the bullish scenario. The 50-day EMA around $115,000 now serves as an important support level. The rebound is supported by expected Fed rate cut in October.

Source: xStation5

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This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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Bitcoin surges 2% approaching ATH levels 📈

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