BTC market analysis

[WK333555]

After a brief period of negative impact, Bitcoin prices have risen more than 10% in the past seven days. This allowed the market leader to break through the important 58K resistance level towards its key psychological level of $60,000.

Bitcoin Price Analysis September 2024 TradingView: BTC/USDT Late in the Asian trading session, the price of bitcoin rose from $57,662 to $59,605, an increase of 3.38%. In addition, with the recent bullish action, it successfully retested the important resistance/support zone near $58,000.

The moving average convergence divergence (MACD) has recorded a rising green histogram in its 1-day time frame with a bullish convergence. This highlights the increase in bullish action for tokens in the crypto market.

In addition, the 50-day / 200-day exponential moving average (EMA) has begun to stabilize, recording a neutral price trend. However, the 50-day moving average shows a potential bullish reversal, suggesting a positive market outlook going forward.

Can Bitcoin hit $100,000 this year?

If the market continues to gain momentum, the BTC price will retest its resistance at $60,178. Maintaining that price level would set the stage for Bitcoin to move toward its upper resistance of $66,726 in the coming weeks.

On the other hand, if a trend reversal occurs, it will retest the $58,000 support trend line. Failure to hold the price at that level could cause Bitcoin to fall to its lower support level of $55,000 this month.
Original author: TG:@WK333555, professional cryptocurrency analyst, welcome interested friends to exchange and learn to get rich together!

[NicNacCoin]

If I have to do an analysis about the Bitcoin market, I may not be able to do a very good analysis, but from what I can do, I can say that Bitcoin can reach a maximum of $80,000 in 2024 and stay above $100,000 in 2025.  Many influencers may have predicted that Bitcoin will reach $100,000 in 2024, but given the volatility of the Bitcoin market, I am not too far ahead of $100,000.

[Doan9269]

With what is happening on the market sentiment this recent days, we can factor our many things from here, the market price is getting more attractive as there is more indications that the market is pumping soon, we can see from it previous performance and how it indications have been showing positive for bullish trend, but i don't think i have heard of any speculation not in favour of the current market, everything is positivity coming ahead with bitcoin.

[Yaunfitda]

With what is happening on the market sentiment this recent days, we can factor our many things from here, the market price is getting more attractive as there is more indications that the market is pumping soon, we can see from it previous performance and how it indications have been showing positive for bullish trend, but i don't think i have heard of any speculation not in favour of the current market, everything is positivity coming ahead with bitcoin.

It is still on the sideway patterns, now it's above $60k, but it doesn't mean that we can maintain it as we have been in this situation before in the last week or so but it keeps on going down after hitting this round numbers. Although everyone is waiting for the Fed cut rate news in the next couple of hours and if that happens, we will be bullish short term or at least at the end of the month.

We have a poll thread that says it will be sideways, or at least that's what the majority is thinking. But it can go as high as $65k, again, if everything looks very positive for us. But still though, we have seen the market really going on volatile in the last couple of months and so we should just be ready for anything.

[Orpichukwu]

After bitcoin breaks the $70k level, does anyone believe that it will drop down below $50k again this year? I think only a few people believe that because the market was not showing signs of weakness, it will drop to that level at that point in time. 
 
Anything is possible in bitcoin. The year is just left with about 3 months before we round it up to the year 2024. It's enough time for the bitcoin price to break through the struggling $59k level and either push up to $70k or above, but $100k is what I don't think we can achieve this year.

[Odusko]

Still on still, bitcoin still remains in it recovery mood haven't done a repeated attempts to clinch to the $60-61k price severally, the overall market still remains far from being a bullish movement, but from all indications, we are going to have a week that will be filled with alot of profits for those that have accumulated below 60k and with a short term trading targets.

Bitcoin will by all means attempts to climb to somewhere around 62k+ before the weekend, but if that doesn't happens then we may likely see some further decline in the price of bitcoin in the coming days.

That not withstanding, we have to remain positive along the waiting line and we should also try as much as possible to build all the necessary bringing gap that will put us at gain regardless of what actually happens along the way while we await the road to 100k.

[JeffBrad12]

it has successfully held the support at $58k but I think it's mainly because the rate cut, bitcoin might just have a little rally for now until $64k and then if it failed to break resistance around $64k-$65k I expect it to go down again to the level of $60k and keep swinging.

current pullback is just temporary and just BTC catching breath, it will resume its rally again.



however, if BTC just going wild and break pass through resistance at $70k, then I'd say, we will see a new big rally, but it's just my speculation.

[Dave1]

it has successfully held the support at $58k but I think it's mainly because the rate cut, bitcoin might just have a little rally for now until $64k and then if it failed to break resistance around $64k-$65k I expect it to go down again to the level of $60k and keep swinging.

current pullback is just temporary and just BTC catching breath, it will resume its rally again.



however, if BTC just going wild and break pass through resistance at $70k, then I'd say, we will see a new big rally, but it's just my speculation.

Yeah, it's good that we have positive impetus from the fed rate hike at 0.5% reduction, and so the next target could have been $64k, but let's see. It seems that some position has been liquidated already as we have reach as high as $62,600 in some exchange.

So going to be another wait and see game for us, and hopefully we can break that barrier at $64k at least for short term or end of the month. We still have plenty of leg room to accomplished it, a full two weeks and if we stay positive we might see $65k again.

[Kemarit]

And as expected, we have reach $62,000 as news of 0.5% interest rate cut by the United States Federal Reserve. So as we have seen, not just crypto market, everything was in align with this news and so financial markets all over the world as in the positive in the last 24 hours.

And with that, we might expect something big to push the price even further to $65,000 before the end of the month. We need this positive news to sustained growth. Prices has been in the sideways and at least a good $60,000-$65,000 short term is going to be a good sign for us, that a imminent rally and we all could sustain that run up to the end of  the year and have a new all time high.

[Odusko]

it has successfully held the support at $58k but I think it's mainly because the rate cut, bitcoin might just have a little rally for now until $64k and then if it failed to break resistance around $64k-$65k I expect it to go down again to the level of $60k and keep swinging.

current pullback is just temporary and just BTC catching breath, it will resume its rally again.



however, if BTC just going wild and break pass through resistance at $70k, then I'd say, we will see a new big rally, but it's just my speculation.

Yeah, it's good that we have positive impetus from the fed rate hike at 0.5% reduction, and so the next target could have been $64k, but let's see. It seems that some position has been liquidated already as we have reach as high as $62,600 in some exchange.

So going to be another wait and see game for us, and hopefully we can break that barrier at $64k at least for short term or end of the month. We still have plenty of leg room to accomplished it, a full two weeks and if we stay positive we might see $65k again.

From the look of things, bitcoin is going to have some large positive direction movement, this started sometimes ago with the jump in price from 58k to 62k which is significantly higher and while on future trade's, bitcoin is already heading towards 65k which is good enough indication to what we can expect in the coming weeks, this is most important and fact that we are in for a some long period of price volitility ride and for sure bitcoin is going to make all possible attempts to stop any possible drop down in price also we have to check the entire market to see how best the current bitcoin market have affected our trading decisions, if we look away from the possible advantage of bitcoin current market price on long term investors, if we have to views both in the same light.

We may see some temporary drop down in price of bitcoin, but that can not be significant enough to effects the motivations of trader's because the aim right now is a benchmark of at least $65k price before any possible correction can happen, quite good enough we have seen the most strongest resistance which kept bitcoin price at around 58k for some weeks before the recent attempts to surpass that price.

Between 0.5% to 0.10% reduction in intervals of 24 hour's is still ok and acceptable in most cases, but if anything further than that happens, it may likely result into another long ride of downtrend movement and I don't think bitcoin will go that route right now.

[fuguebtc]

And as expected, we have reach $62,000 as news of 0.5% interest rate cut by the United States Federal Reserve. So as we have seen, not just crypto market, everything was in align with this news and so financial markets all over the world as in the positive in the last 24 hours.

And with that, we might expect something big to push the price even further to $65,000 before the end of the month. We need this positive news to sustained growth. Prices has been in the sideways and at least a good $60,000-$65,000 short term is going to be a good sign for us, that a imminent rally and we all could sustain that run up to the end of  the year and have a new all time high.

I know people are very optimistic and starting to think about bigger growth of bitcoin but in my opinion ,  it is still too early to say that .  If you look at the news and speculation surrounding the Fed's sudden 0.5% interest rate cut, you'll see that it's not all positive, instead there are some theories that the economy is at risk of a recession . If a recession happens , I think it will have a significant impact on the market and we are unlikely to see a real bull market as expected.

I agree with some that we need to be careful with what is going on and watch the market reaction over the next few days before making any decisions .  Sell ​​the news could still happen or the market could fall sharply again if recession fears become more evident .

[michellee]

If you ask about can Bitcoin hit $100,000 this year, the answer will be difficult because Bitcoin price now is at $63k and it is on the way to reach that price. We can hope that Bitcoin price can gain more good momentum to lift the price to go to the high price so we can see $100,000 will be close to reach.  But we must be careful with the reverse of the price because that can happen anytime without we notice. We can feel happy right now as the price can increase so some trader can take their profit before they place another order. We must prepare for anything that happen later because we never know for sure. Is this situation will continue to give a green bar in the market? We will see it later so prepare yourself.

[Zigabel]

it has successfully held the support at $58k but I think it's mainly because the rate cut, bitcoin might just have a little rally for now until $64k and then if it failed to break resistance around $64k-$65k I expect it to go down again to the level of $60k and keep swinging.

current pullback is just temporary and just BTC catching breath, it will resume its rally again.



however, if BTC just going wild and break pass through resistance at $70k, then I'd say, we will see a new big rally, but it's just my speculation.

$70k isn't a place we should be expecting that Bitcoin gets to retest any soon because there are so many economic situations around the investing strength of many investors which has made them really indecisive and that has been why the really around $58k to $64k has held for too long after the halving which did beamed hopes of a massive bull market. When there begins to set in some stability around the economic situations and even the adoption of Bitcoin around some other countries I think their will be a better volatile strength because it's a key factor, most bitcoiners seem to ignore fundamentals but they forget that it's actually the basics for the moves on the chart.

[Akbarkoe]

And as expected, we have reach $62,000 as news of 0.5% interest rate cut by the United States Federal Reserve. So as we have seen, not just crypto market, everything was in align with this news and so financial markets all over the world as in the positive in the last 24 hours.

And with that, we might expect something big to push the price even further to $65,000 before the end of the month. We need this positive news to sustained growth. Prices has been in the sideways and at least a good $60,000-$65,000 short term is going to be a good sign for us, that a imminent rally and we all could sustain that run up to the end of  the year and have a new all time high.

The sentiment of this interest rate cut makes the market excited not only for bitcoin but the S&P500 as well, the 50Bps cut makes investors confident that we will get great liquidity in the market and it seems to be true that the market has risen quite well for 24 hours, and this will continue in my opinion if there is no bad sentiment towards the market, because usually that bitcoin is quite sensitive to macro news, hopefully it will not happen like that.

If you want to have an extraordinary increase in bitcoin, bitcoin must remain at the $60k price level and no longer consolidate the price / retest at the $50k-$59k level again, let's say we can maintain the price of bitcoin at $60k until the end of September then I am quite sure that October will be very Bullish for bitcoin until the end of this year, this will encourage investor optimism for bitcoin, besides that I also have the thought that the Fed will continue to cut interest rates in the next month slowly 0.25%/25Bps will be the target for the next cut and that will pump the market exponentially.

[ajiz138]

If you ask about can Bitcoin hit $100,000 this year, the answer will be difficult because Bitcoin price now is at $63k and it is on the way to reach that price. We can hope that Bitcoin price can gain more good momentum to lift the price to go to the high price so we can see $100,000 will be close to reach.  But we must be careful with the reverse of the price because that can happen anytime without we notice. We can feel happy right now as the price can increase so some trader can take their profit before they place another order. We must prepare for anything that happen later because we never know for sure. Is this situation will continue to give a green bar in the market? We will see it later so prepare yourself.

It is not impossible for bitcoin to $100K end know we see in the remaining months [Oct, Nove, Dec] if bitcoin experiences a higher bounce then it could happen it's just that we see the current price stagnant long enough then other speculation says $100K may be most ideal is next year.

About price reversal? It is possible because we know the price is unpredictable even if there is no surprising news that cornered the crypto market.
But just prepare yourself better because that's what we're waiting for right.

[michellee]

If you ask about can Bitcoin hit $100,000 this year, the answer will be difficult because Bitcoin price now is at $63k and it is on the way to reach that price. We can hope that Bitcoin price can gain more good momentum to lift the price to go to the high price so we can see $100,000 will be close to reach.  But we must be careful with the reverse of the price because that can happen anytime without we notice. We can feel happy right now as the price can increase so some trader can take their profit before they place another order. We must prepare for anything that happen later because we never know for sure. Is this situation will continue to give a green bar in the market? We will see it later so prepare yourself.

It is not impossible for bitcoin to $100K end know we see in the remaining months [Oct, Nove, Dec] if bitcoin experiences a higher bounce then it could happen it's just that we see the current price stagnant long enough then other speculation says $100K may be most ideal is next year.

About price reversal? It is possible because we know the price is unpredictable even if there is no surprising news that cornered the crypto market.
But just prepare yourself better because that's what we're waiting for right.

You say with right so we still have more chance to buy more. Bitcoin needs to lift the price more than today no matters if that will slowly or fast. People who hopes to see Bitcoin price start the rally will still wait with patience.

They know that increasing the price needs time and more power so they don't mind to wait for more. The important thing is they can still buy back more when the price have the correction. That is what they also waiting from the market because they already allocating more money to buy more.

Today Bitcoin gets price reversal although the push to go down still there. But bitcoin still trying to break the higher price so we can hope that the rest of this month can be a good time to increase. Yes, we must prepare ourselves for what will coming.

[TravelMug]

it has successfully held the support at $58k but I think it's mainly because the rate cut, bitcoin might just have a little rally for now until $64k and then if it failed to break resistance around $64k-$65k I expect it to go down again to the level of $60k and keep swinging.

current pullback is just temporary and just BTC catching breath, it will resume its rally again.



however, if BTC just going wild and break pass through resistance at $70k, then I'd say, we will see a new big rally, but it's just my speculation.

$70k isn't a place we should be expecting that Bitcoin gets to retest any soon because there are so many economic situations around the investing strength of many investors which has made them really indecisive and that has been why the really around $58k to $64k has held for too long after the halving which did beamed hopes of a massive bull market. When there begins to set in some stability around the economic situations and even the adoption of Bitcoin around some other countries I think their will be a better volatile strength because it's a key factor, most bitcoiners seem to ignore fundamentals but they forget that it's actually the basics for the moves on the chart.

Barring all that economic situation that you mentioned, I think $70k should be the price that we should be expecting isn't it? We already have a good uptick in the price because of the 0.5 Fed cut and as others said not only did it affect Bitcoin market, but other financial market as well so that is a very bullish result.

And with that, $70k should be the next barrier that we should attempt to reach. Obviously there are that $65k-$68k, but the most important price is breach is that whole number again as it is close to the last all time high that we have set last March.

[Kemarit]

And as expected, we have reach $62,000 as news of 0.5% interest rate cut by the United States Federal Reserve. So as we have seen, not just crypto market, everything was in align with this news and so financial markets all over the world as in the positive in the last 24 hours.

And with that, we might expect something big to push the price even further to $65,000 before the end of the month. We need this positive news to sustained growth. Prices has been in the sideways and at least a good $60,000-$65,000 short term is going to be a good sign for us, that a imminent rally and we all could sustain that run up to the end of  the year and have a new all time high.

I know people are very optimistic and starting to think about bigger growth of bitcoin but in my opinion ,  it is still too early to say that .  If you look at the news and speculation surrounding the Fed's sudden 0.5% interest rate cut, you'll see that it's not all positive, instead there are some theories that the economy is at risk of a recession . If a recession happens , I think it will have a significant impact on the market and we are unlikely to see a real bull market as expected.

I agree with some that we need to be careful with what is going on and watch the market reaction over the next few days before making any decisions .  Sell ​​the news could still happen or the market could fall sharply again if recession fears become more evident .

But still, you can't discount the fact that after the news have been released to the public, everything goes on and have a good bounce back, including Bitcoin market itself at $63,000 and that is already a big boost in the price as there are speculations that we might retest another lowest low at $49,000.

In any case that this is not a full blown bull run, at least this could still be a short term recovery. For me we really need to go over $60,000 within the last quarter so that there is a good chance that by 2025, we will finally see the bull run that we all have been waiting for.

[AprilioMP]

Can Bitcoin hit $100,000 this year?

I still can't say one answer between can or can't because of what, because I still don't have knowledge about market analysis like other market experts in delivering their analysis even though there is no exact prediction.
The rest of this year is only three months and the results of my analysis are that with 3 months left that the price of Bitcoin will not reach $100,000 this year. The opportunity to reach a price of $100,000 will likely occur in 2025.

[Republikcoin.com]

Can Bitcoin hit $100,000 this year?

I still can't say one answer between can or can't because of what, because I still don't have knowledge about market analysis like other market experts in delivering their analysis even though there is no exact prediction.
The rest of this year is only three months and the results of my analysis are that with 3 months left that the price of Bitcoin will not reach $100,000 this year. The opportunity to reach a price of $100,000 will likely occur in 2025.

Currently the price of Bitcoin itself is still below $65K which is still a bit far from being able to reach $100K this year, especially considering the time this year is not long as you said, it is clearly quite difficult to break through to $100K. But if in every month that is still left this year there can continue to be so many purchases that it has the effect of increasing the price of Bitcoin by more than ten thousand dollars in every month that is still left, of course there is a possibility for Bitcoin to reach $100K before next year.

Just for the price to increase that much in every month from now on, it is clearly not going to be easy for Bitcoin to happen because there are many people who still need to make adjustments to the current market conditions in order to be able to buy Bitcoin in large quantities again.