Bitcoin Nears ‘Double Botttom Breakout’ Ahead of Key US Data, China Stimulus
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Bitcoin is approaching a 'double bottom breakout' after a 20% rise, potentially targeting $77,500; the cryptocurrency formed a local low of around $52,500 two weeks prior; key US economic data, including PCE and jobless claims, is due this week; Fed Governor Christopher Waller indicated possible quarter-point rate cuts in November and December; a larger half-point cut may occur if labor data on Sep. 26 shows weakness; China's PBOC lowered the 14-day reverse repurchase rate to stimulate the economy; Pan Gongsheng, the governor of China's central bank, will hold a press briefing to discuss financial support; Bitcoin's resistance level is around $64,000, with a bullish outlook supported by moving averages and RSI near 64.
#Bitcoin #Cryptocurrency #UsEconomy #ChinaStimulus #FedRateCuts #DoubleBottomBreakout #Pce #JoblessClaims #EconomicData #MarketAnalysis
https://www.fxempire.com/forecasts/article/bitcoin-nears-double-botttom-breakout-ahead-of-key-us-data-china-stimulus-1462942
FX Empire /
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2024-09-23 07:05:50
Author Public Key
npub1ljmz9hjq6kkwm5ltqfc6dpw9ytalhtnf7sgp4r75dqvtsq2wz9sqp9zjdcSeen on
wss://relay.damus.ioPublished at
2024-09-23 07:05:50Event JSON
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"content": "Bitcoin Nears ‘Double Botttom Breakout’ Ahead of Key US Data, China Stimulus\n==========\n\nBitcoin is approaching a 'double bottom breakout' after a 20% rise, potentially targeting $77,500; the cryptocurrency formed a local low of around $52,500 two weeks prior; key US economic data, including PCE and jobless claims, is due this week; Fed Governor Christopher Waller indicated possible quarter-point rate cuts in November and December; a larger half-point cut may occur if labor data on Sep. 26 shows weakness; China's PBOC lowered the 14-day reverse repurchase rate to stimulate the economy; Pan Gongsheng, the governor of China's central bank, will hold a press briefing to discuss financial support; Bitcoin's resistance level is around $64,000, with a bullish outlook supported by moving averages and RSI near 64.\n\n#Bitcoin #Cryptocurrency #UsEconomy #ChinaStimulus #FedRateCuts #DoubleBottomBreakout #Pce #JoblessClaims #EconomicData #MarketAnalysis\n\nhttps://www.fxempire.com/forecasts/article/bitcoin-nears-double-botttom-breakout-ahead-of-key-us-data-china-stimulus-1462942",
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