Bitcoin (BTC), that enigmatic child of the digital age, continues to dance on the edge of a precipice. 🕺 The feeble bounce on Tuesday has already fizzled out like a wet firecracker, leaving the cryptocurrency teetering precariously close to its local low of $109,000. A spark is desperately needed. Could this come from the US stock market? 🤔
Buoyant US stock market + rate cuts = the spark that ignites Bitcoin?
The weekly chart for the S&P 500 reveals a story of resilience that could put Phoenix to shame. The Index has staged a spectacular recovery from the Trump tariffs plunge. Now, it’s back above the lower trendline of the rising channel and is making new all-time highs with the regularity of a Swiss clock. 🕰️
At the bottom of the chart, the Stochastic RSI indicators are bouncing along the top, while the MACD just below shows the indicator lines returning to their elevated positions of early 2024. It’s like a déjà vu of financial indicators! 🔄
A rate cut is likely coming in September, but history tells us that the Federal Reserve is always playing catch-up. Once the cuts begin, it’s usually too late to stop the rot in an economy already sliding downhill. 📉
Nevertheless, with President Trump effectively puppeteering the Federal Reserve, rate cuts could come faster than a speeding bullet. Combared with potential government money printing going into overdrive, this could be the rocket fuel Bitcoin needs to complete its bull market with a bang. 🚀
$BTC confirms $112,000 as resistance
Unless you’re a trader, diving into the minutiae of the $BTC price in the short-term is like trying to solve Schrödinger’s cat puzzle blindfolded. 🐱 Suffice it to say that $BTC is generally going sideways, and it’s approaching the bottom of this range once again. Until it definitively breaks through $109,000 or climbs the descending trendline, patience is your best friend. 🕰️
Of course, there’s the nagging worry that this last little upside move may have just been to confirm the breakdown of what was once support at $112,000. If so, a lower low from here would be a bearish exclamation point. 🐻
Daily indicators suggest a bounce is near
Judging by the daily chart, the $BTC price is still sitting pretty at a strong level of support. The Stochastic RSI indicators are near the bottom again, and the Relative Strength Index is bouncing along the 40.00 level, which has been a bastion of support in the past. Each time the price has dipped to this level or breached it, a robust bounce has usually followed. 🏀
$109,000 is strong price structure support
The weekly view of the $BTC price reveals it’s still balanced atop the previous range. As long as the price holds above here, everything looks peachy keen. 🍑 There might be more sideways movement to strengthen the structural price base for the next upward leap. 🚀
The Stochastic RSI indicators on this large time frame are possibly only a week or two from hitting rock bottom. When they swing up, they usually deliver some excellent price gains. Will it be the case this time? Only time will tell. ⏳
Read More
- Don’t Miss the BBC Proms 2025: Full Schedule Revealed!
- Marvel’s AI Character Raises Alarming Questions
- Ozzy Osbourne and the Memecoin Madness: When Death Becomes a Crypto Trend
- How to Do Restore Power to the Arcade in Tony Hawk’s Pro Skater 3 + 4
- Gold Rate Forecast
- Nobody 2 Streaming Release Date Rumors: When’s It Coming Out on Peacock?
- All New Items in Abiotic Factor 1.0
- One Piece’s Anime Unveils First Look at the Final Saga’s Best Scene
- USD KRW PREDICTION
- XMR PREDICTION. XMR cryptocurrency
2025-08-27 12:11