BTCUSD: Inter chart neutrality gearing up a 95k rally.

Sep 10

Bitcoin is neutral both on its 1D technical outlook (RSI = 48.160, MACD = -1368.400, ADX = 31.563) and 1W (RSI = 48.050, MACD = 1334.200, ADX = 25.395). This strong neutrality right after the price hit and held the 1W MA50 for the second time in 30 days, technically suggests the forming of a bottom. This time the bottom was after a 0.618 Fibonacci pullback, deeper than the previous three main corrections since 2022 (twice on the 0.5 Fib and once on the 0.382). This could indicate that the rally that will follow might be stronger but even if the +92% 'minimum' is pursued, Bitcoin will come very close to the 100k mark. We are long, TP = 95,000.


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