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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