BTC/USD Forecast Today 24/09: Bitcoin Bounces A Bit (Video)

(MENAFN- Daily Forex)

• Bitcoin is trying to find a little bit of strength and support in this general vicinity of $113,000. And the market breaking down the way it has only to turn around and form a bit of a hammer does suggest that perhaps we have a real shot at bouncing here.
• The 50 day EMA, of course, is just above. I think offer significant resistance, but if we can break above that level, then the $117,000 level could be targeted next. If we can clear that, then we could be talking about moving to the $120,000 level. To the downside, the $110,000 level is an area that I think a lot of people will offer support, which of course previously has been resistant.
• Ultimately, this is what I am waiting to see whether or not we can continue to go upside from here because the upside would form a bit of a V pattern. V patterns, of course, are signs of buyers coming back in $110,000 being broken below would be a very negative turn of events. And at that point, I think we will eventually go looking to the 200 day EMA.

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money Bitcoin Has Lost Some Shine

Bitcoin has not been as strong as it had been in the past recently. We formed a lower high. So going along the last couple of months, we eventually peaked at about one hundred and twenty five thousand dollars and then fell significantly to make a lower low and then bounced to make a lower high. So, the real question here is, can we pick up the momentum to finally take out one hundred twenty five thousand dollars above? I think we are still more or less in the process of trying to sort out whether or not the longer term trend continues. But in the short term, it certainly looks like there are buyers out there.

EURUSD Chart by TradingView

Ready to trade Bitcoin forex forecast ? Here's a list of some of the best crypto brokers to check out.

MENAFN24092025000131011023ID1110104819