{"id":51462,"date":"2024-08-20T01:35:00","date_gmt":"2024-08-20T01:35:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-metrics-bull-signals-60-6-k-btc-price"},"modified":"2024-08-20T04:20:48","modified_gmt":"2024-08-20T04:20:48","slug":"bitcoin-metrics-line-up-bull-signals-with-60-6k-btc-price-level-to-beat","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51462","title":{"rendered":"Bitcoin metrics line up bull signals with $60.6K BTC price level to beat"},"content":{"rendered":"

Bitcoin (BTC) sought a reclaim of $60,000 into the Aug. 18 weekly close as \u201cout of hours\u201d BTC price action saw strength.<\/p>\n

BTC\/USD 1-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n

Ichimoku crossover leads bullish BTC price signals<\/h2>\n

Data from Cointelegraph Markets Pro and TradingView showed new local highs of $60,271 on Bitstamp on the day.<\/p>\n

Despite the absence of traditional market traders, BTC\/USD slowly edged higher throughout the weekend, while price indicators hinted at continued upside to come.<\/p>\n

Analyzing the Ichimoku cloud on daily timeframes, popular trader Titan of Crypto flagged a key bullish crossover, setting Bitcoin up for an upward run.<\/p>\n

\u201cBTC just closed a candle above Tenkan and is now eyeing a Kijun reclaim,\u201d he wrote in part of accompanying commentary on X.<\/p>\n

Titan of Crypto referred to the classic TK crossover, an event on an Ichimoku chart that traders look for as a sign of an imminent upside breakout.<\/p>\n

BTC\/USD 1-day chart with Ichimoku cloud data. Source: Titan of Crypto\/X<\/em><\/figcaption><\/figure>\n

The post additionally noted a bullish cross for the moving average convergence\/divergence (MACD) indicator, which measures the interplay between two moving averages to determine buy and sell points.<\/p>\n

\u201c$BTC has a very high chance of pumping again SOON,\u201d fellow trader Alan Tardigrade concluded in his own post on the topic.<\/p>\n

BTC\/USD 1-day chart with MACD data. Source: Trader Tardigrade\/X<\/em><\/figcaption><\/figure>\n

Bitcoin\u2019s “parabolic” phase still in play<\/h2>\n

Continuing, popular trader and analyst Rekt Capital reiterated that $60,600 was now the ideal level for bulls to clinch at the weekly close.<\/p>\n

Related: 45% of Bitcoin supply has not moved in 6 months \u2014 Research<\/em><\/strong><\/p>\n

In doing so, the price would win back its post-halving \u201creaccumulation range\u201d lost during the snap trip to six-month lows earlier in August.<\/p>\n

\u201cIt would also signal the end of its downside deviation bargain period below the ReAccumulation Range (orange circle),\u201d Rekt Capital added alongside an explanatory chart.<\/p>\n

BTC\/USD 1-week chart. Source: Rekt Capital\/X<\/em><\/figcaption><\/figure>\n

A further post added a countdown to a more intense period of price growth, using past cycles as a guide.<\/p>\n

\u201cBitcoin is ~125 days after the Halving. Bitcoin tends to breakout into the Parabolic Phase of the cycle some ~160 days after the Halving,\u201d it\u00a0stated, with Rekt Capital reiterating an existing theory from July.<\/p>\n

\u201cIf history repeats, Bitcoin could be just over a month away from breakout. That’s late September.\u201d<\/p><\/blockquote>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

However there are other traders pointing out of possible tricks in BTC Price.<\/p>\n

CrypNuevo warned of a potential \u201cfakeout\u201d to the upside before price returns lower over the coming days.<\/p>\n

\u201cMost retail will be paying attention to and trading this channel; thus, we could see some manipulation from the Market Maker here,\u201d he explained alongside an illustrative chart.<\/p>\n

\u201cWe could see a fake-out above it at the start of the week to then drop to that new wick at $56k.\u201d<\/p><\/blockquote>\n

\"\"
BTC\/USDT 4-hour chart. Source: CrypNuevo<\/em><\/figcaption><\/figure>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) sought a reclaim of $60,000 into the Aug. 18 weekly close as \u201cout of hours\u201d BTC price action saw strength. BTC\/USD 1-hour chart. Source: TradingView Ichimoku crossover leads bullish BTC price signals Data … Bitcoin metrics line up bull signals with $60.6K BTC price level to beat<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51480,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,97],"class_list":["post-51462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyips","exalt-entry"],"yoast_head":"\nBitcoin metrics line up bull signals with $60.6K BTC price level to beat - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51462\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin metrics line up bull signals with $60.6K BTC price level to beat - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) sought a reclaim of $60,000 into the Aug. 18 weekly close as \u201cout of hours\u201d BTC price action saw strength. 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