Analyst: Bitcoin price action has almost fully priced in a Fed rate cut, indicators show short-term bullish momentum has returned
ChainCatcher News, CryptoQuant analyst Axel posted on social media that after bitcoin retraced to $80,000, it has resumed its bullish structure. This trend comes as the market has almost fully priced in the Federal Reserve's third consecutive rate cut, a move that will improve financial conditions and, as long as Powell does not deliver a hawkish surprise, open the window for further asset appreciation.
After retracing from the October peak to the $80,000 range, the price has shown a steady upward trend over the past 14 days. The key signal is that the 200-day moving average (DMA) slope (blue histogram) has turned positive for the first time in a month, indicating that short-term bullish momentum has returned. The current price has risen above both the 50-day and 200-day moving averages, confirming the trend. The 52-week high (orange line) forms a key resistance level—once broken, it will open up space for further gains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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