Bitcoin — Waiting For The Next Move

13 Sep

Technically, Bitcoin remains within a descending channel, and 58k is still the critical resistance. A daily close above 58k would be a step forward, but for the bullish case to gain traction, 60k needs to be cleared decisively.

For now, 58k holds. If Bitcoin continues to stall here, the odds of a pullback toward the 52k lower trendline increase, as highlighted in the chart.

Key Takeaways:
- 58k remains a barrier: Despite promising price action, no breakout has materialized.
- Bearish scenario still valid: The longer Bitcoin consolidates below 58k, the more likely we revisit the lower trendline at 52k.
- FED meeting ahead: With the upcoming meeting, Bitcoin may hover between 57k and 58k until then.

The bullish signs are present, but 58k is still the level to watch. Without a firm break above 60k, the risk of retesting 52k remains strong.