Bitcoin Weekly Analysis : Bullish Move Ahead? (READ THE CAPTION)

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By analyzing the Bitcoin chart on the weekly timeframe, we can see that, based on the previous analysis, Bitcoin did not stabilize below the $57,870 level. After a short-term corrective wave, it was once again met with strong demand. Last night, following the announcement of a half-percent interest rate cut by the Federal Reserve, this cryptocurrency saw even more demand and managed to rise to $62,500. Now, we have to see if the price can break above $65,000 by the end of this weekly candle. It’s likely that Bitcoin and other altcoins will soon begin their main bullish wave, with Bitcoin's potential target in the mid-term being $80,000.

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Best Regards , Arman Shaban