Bitcoin Price Prediction: As BTC Surges 3%, Traders Turn To This Solana GambleFi ICO For 100x Gains – Next Rollbit Coin?
The Bitcoin price soared 3% in the last 24 hours to trade at $63,375 as of 00:50 a.m. EST even as trading volume tumbled 11% to $41.7 billion.
This comes after the Bank of Japan (BOJ) left key interest rates unchanged at its September policy meeting, and indicated it’s in no rush to raise rates.
Bitcoin Price Set For A Bullish Trend Continuation
The Bitcoin price has recently capitalized on the cup and handle pattern to soar above the $63,000 level, according to data from GeckoTerminal .
BTC has now surpassed both the 50-day and 200-day Simple Moving Averages (SMAs), which confirms the bullish trend.
The Relative Strength Index also seems to be recovering above the 50-midline level, currently at 64, as it soars towards the 70-overbought region, showing that the token is currently under intense buying pressure.
Moreover, the Moving Average Convergence Divergence shows that the Bitcoin price is currently on positive momentum.
If this momentum continues, BTC could continue soaring as the bulls target $66,600.
However, if the bears take control of the price at this level, the Bitcoin price may plunge back to the 50-day SMA at $59,774.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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