{"id":643174,"date":"2024-09-19T22:00:01","date_gmt":"2024-09-19T22:00:01","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=643174"},"modified":"2024-09-19T15:08:13","modified_gmt":"2024-09-19T15:08:13","slug":"bitcoin-reclaims-63000-after-us-fed-rate-cut-but-is-this-rally-for-real","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/bitcoin-news\/bitcoin-reclaims-63000-after-us-fed-rate-cut-but-is-this-rally-for-real\/","title":{"rendered":"Bitcoin Reclaims $63,000 After US Fed Rate Cut, But Is This Rally For Real?"},"content":{"rendered":"

So far, Bitcoin has seen a mixture of bulls and bears just in the past day alone. Although bulls appear to be taking the lead given its current market performance, will this be sustainable?<\/p>\n

Before the US Federal Reserve announcement of the rate cuts, Bitcoin experienced a slight dip in its trading price<\/a>. However, following the announcement, the leading crypto saw a sudden price surge, reclaiming the $60,000 mark.<\/p>\n

Bitcoin continues to show bullish strength, trading at $63,006<\/a>, reflecting a 5.6% increase over the past 24 hours.<\/p>\n

Related Reading: CME Traders Bet Big Against Bitcoin As US Fed Rate Cut Looms<\/a><\/div>\n

Is This Bitcoin Rally For Real?<\/h2>\n

The sudden bullish performance from Bitcoin recorded over the past day has had several traders and analysts sharing their respective outlooks on the asset, with many focusing on the next potential trajectory<\/a> of Bitcoin\u2019s price.<\/p>\n

Despite the ongoing upward momentum, some experts urge caution, highlighting underlying market signals that could impact the sustainability of this bullish trend<\/a>.<\/p>\n

One such expert, crypto trader Josh Olszewicz, shared his insights on this matter, suggesting that while the current picture appears optimistic, there are still some concerns to consider before expecting a continued uptrend.<\/p>\n

According to Olszewicz, Bitcoin’s recent move led it above the daily Ichimoku Cloud\u2014a technical analysis indicator used to gauge market trends\u2014signaling a potential bullish scenario.<\/p>\n

\"Bitcoin
Bitcoin above Ichimoku cloud. | Source: CarpeNoctom on X<\/figcaption><\/figure>\n

However, he emphasized that this indicator alone does not guarantee a sustained upward trend. Specifically, Olszewicz pointed out that the Cloud and the Tenkan-Sen and Kijun-Sen (TK) cross are still in a bearish formation.<\/p>\n

\n

$BTC<\/a><\/p>\n

We are once again back above the daily Cloud, although we still have a bearish Cloud and bearish TK cross.<\/p>\n

Additionally, the previous three Kumo breakouts this year have gone no where. So although this is a certainly more bullish picture than a few days ago, Cloud does\u2026 pic.twitter.com\/bmlqKM9g6c<\/a><\/p>\n

\u2014 #333kByJuly2025 (@CarpeNoctom) September 19, 2024<\/a><\/p><\/blockquote>\n

What Will Result In A Sustainable Rally?<\/h2>\n

For a more definitive bullish signal, the Cloud needs to flip into a bullish mode, along with a bullish TK cross, Olszewicz disclosed. This setup would provide a stronger confirmation for a bullish continuation<\/a>.<\/p>\n

Olszewicz also noted that previous Kumo breakouts this year have failed to lead to significant price gains, adding uncertainty to the current breakout.<\/p>\n

He suggested that analyzing Bitcoin on a longer timeframe, such as the two-day Ichimoku Cloud, might offer a clearer perspective.<\/p>\n

Related Reading: Crypto Analyst Reveals Key Insights into Bitcoin\u2019s Bull-Bear Transition Phase<\/a><\/div>\n

A bullish breakout on this timeframe and an eventual bullish TK cross could provide a more reliable indication of a sustained bullish trend for Bitcoin.<\/p>\n

\"Bitcoin
BTC price is moving upwards on the 1-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

So far, Bitcoin has seen a mixture of bulls and bears just in the past day alone. Although bulls appear to be taking the lead given its current market performance, will this be sustainable? Before the US Federal Reserve announcement of the rate cuts, Bitcoin experienced a slight dip in its trading price. However, following the announcement, the leading crypto saw a sudden price surge, reclaiming the $60,000 mark. Bitcoin continues to show bullish strength, trading at $63,006, reflecting a 5.6% increase over the past 24 hours. Related Reading: CME Traders Bet Big Against Bitcoin As US Fed Rate Cut Looms Is This Bitcoin Rally For Real? The sudden bullish performance from Bitcoin recorded over the past day has had several traders and analysts sharing their respective outlooks on the asset, with many focusing on the next potential trajectory of Bitcoin\u2019s price. Despite the ongoing upward momentum, some experts urge caution, highlighting underlying market signals that could impact the sustainability of this bullish trend. One such expert, crypto trader Josh Olszewicz, shared his insights on this matter, suggesting that while the current picture appears optimistic, there are still some concerns to consider before expecting a continued uptrend. According to Olszewicz, Bitcoin’s recent move led it above the daily Ichimoku Cloud\u2014a technical analysis indicator used to gauge market trends\u2014signaling a potential bullish scenario. However, he emphasized that this indicator alone does not guarantee a sustained upward trend. Specifically, Olszewicz pointed out that the Cloud and the Tenkan-Sen and Kijun-Sen (TK) cross are still in a bearish formation. $BTC We are once again back above the daily Cloud, although we still have a bearish Cloud and bearish TK cross. Additionally, the previous three Kumo breakouts this year have gone no where. So although this is a certainly more bullish picture than a few days ago, Cloud does\u2026 pic.twitter.com\/bmlqKM9g6c \u2014 #333kByJuly2025 (@CarpeNoctom) September 19, 2024 What Will Result In A Sustainable Rally? For a more definitive bullish signal, the Cloud needs to flip into a bullish mode, along with a bullish TK cross, Olszewicz disclosed. This setup would provide a stronger confirmation for a bullish continuation. Olszewicz also noted that previous Kumo breakouts this year have failed to lead to significant price gains, adding uncertainty to the current breakout. He suggested that analyzing Bitcoin on a longer timeframe, such as the two-day Ichimoku Cloud, might offer a clearer perspective. Related Reading: Crypto Analyst Reveals Key Insights into Bitcoin\u2019s Bull-Bear Transition Phase A bullish breakout on this timeframe and an eventual bullish TK cross could provide a more reliable indication of a sustained bullish trend for Bitcoin. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":643201,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,6848,1119,78790,6664,10923],"class_list":["post-643174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-bitcoin-price-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\nBitcoin Reclaims $63,000 After US Fed Rate Cut, But Is This Rally For Real?<\/title>\n<meta name=\"description\" content=\"So far, Bitcoin has seen a mixture of bulls and bears just in the past day alone. 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These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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