Bitcoin is currently experiencing a bullish and bearish mix. This has only been in the last 24 hours. The bulls are currently leading the market, but will that be sustainable?
Bitcoin was experiencing a rapid increase in value before the US Federal Reserve announced the rate reductions. slight dip in its trading price. Following the announcement however, the top crypto experienced a price spike, returning to the $60,000.
Bitcoin shows continued bullish strength trading at $63,006The price of reflects a 5,6% rise in the past 24 hour.
This Bitcoin rally is real?
Traders and analysts have been sharing their views on Bitcoin after the sudden surge in its price over the last day. Many of them focused on the recent performance. next potential trajectory Bitcoin price.
Experts warn that despite the upward market momentum, there are underlying signs of concern, which could affect the sustainability. bullish trend.
Crypto trader Josh Olszewicz shared his thoughts on the matter. He suggested that, while it appears to be a positive picture, some cautions should still be taken into consideration before expecting an upward trend.
According to Olszewicz, Bitcoin’s recent move led it above the daily Ichimoku Cloud—a technical analysis indicator used to gauge market trends—signaling a potential bullish scenario.
He stressed that the indicator does not ensure a trend upwards. Olszewicz specifically pointed out the Cloud, Tenkan-Sen cross and Kijun-Sen Cross (TK), which are all still in a negative formation.
Although we are still below the Cloud daily, there is a bearish Cloud with a bearish cross TK.
The three previous Kumo breaks this year were also unsuccessful. So although this is a certainly more bullish picture than a few days ago, Cloud does… pic.twitter.com/bmlqKM9g6c
— #333kByJuly2025 (@CarpeNoctom) September 19, 2024
What will result in a sustainable rally?
Olszewicz said that a Bullish TK Cross and a Cloud in a Bullish Mode would be needed to provide a definitively bullish signal. This setup could provide an stronger confirmation for a bullish continuation.
Olszewicz noted also that prior Kumo breakouts in this year failed to result in significant price increases, which adds uncertainty to the present breakout.
He said that looking at Bitcoin over a longer period of time, like the Ichimoku Cloud for two days, could provide a more accurate perspective.
This timeframe’s bullish breakout and a bullish TK crossing could be a better indicator of a long-term bullish Bitcoin trend.
Featured Image created using DALL-E and Charts from TradingView
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Source: www.newsbtc.com