Ah, the Federal Reserve-always playing their little game with the market. On Wednesday, they cut the interest rates, just as expected. And of course, the market’s first reaction was a little tantrum, sending Bitcoin plummeting to a mere $114,800. But hold your horses, dear reader! It wasn’t long before the king of crypto came charging back, almost reaching $118,000. A new rally, you say? Or just a dramatic flare-up of the digital currency’s theatrical nature? 🎭
More rate cuts to come? Brace yourselves! 🤑
The US jobs market is, let’s say, “not doing so hot.” In response, the Federal Reserve decided to cut rates by a modest 25 basis points, with rumors swirling that another 3 cuts are in store before year’s end. Oh joy, more financial loosening! This could mean a happy ending for Bitcoin and its crypto friends-so get your popcorn ready. 🍿
Dip, then… A BIG RALLY! Or not? 🤔
Let’s take a peek at the 4-hour chart, shall we? After a dramatic dive into the depths, Bitcoin found itself near the bottom of the ascending channel. And voilà! A dramatic rebound, defying all expectations. But it’s not over yet. The bulls are currently duking it out at the $117,500 mark. Can they break through? Only time (and a few more candlesticks) will tell. 🔥
Now, this is the point where things get a little more spicy. A candle body managed to pierce through the $117,500 resistance, but, and here’s the kicker, it’s got to stay there. A break above this could send Bitcoin into the wild unknown, and back to its glorious all-time high. 🚀
A tale of two resistances… or is it a soap opera? 📉
Let’s zoom out a bit. The daily chart gives us the grand view. Right now, $117,500 is the first resistance wall standing tall and proud. But wait-if this wall crumbles, the next fortress to face is the mighty $120,000. And, of course, that’s where the fun really begins-because, at the same time, we have the top trendline of the ascending channel lurking, making it even harder to break through. If $120,000 falls, however, prepare for a smooth sail all the way to $124,000. 🎯
And down below, the Stochastic RSI is telling us that the bulls are not done yet! They’re still showing signs of strength, and the RSI is also in full “upwards” mode. Signs point to a good ol’ price surge, my friends. 📈
Critical resistance: Time for the big showdown!
Now, hold your horses! Let’s take a step back and look at the 2-week chart-if you thought the drama was over, think again. This chart is as clear as a well-rehearsed Shakespearean play. At the $117,500 resistance level, Bitcoin finds itself at a pivotal moment. If Bitcoin manages to break through this wall by the end of next week, the market might just be gearing up for its next grand ascent. Will it be an epic rise or a tragic fall? 🍿
And don’t forget about the Stochastic RSI down at the bottom. Though the lines are sloping downward, they’re nearing the magical 50.00 level. If they reverse here, well, get ready for a show worthy of a standing ovation. 🎆
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2025-09-18 13:33