Hello everyone, Bitcoin (BTC/USDT) is currently trading around $115,839 and approaching key Fair Value Gap (FVG) zones, particularly between $115,500 – $117,000. Following Fed Chair Jerome Powell’s speech at the Jackson Hole symposium, the market responded positively. Hints of potential rate cuts weakened the USD, encouraging capital flows into safe-haven assets like Bitcoin and reinforcing the current bullish momentum.
Rising trading volumes highlight buyer dominance, while Ichimoku cloud signals remain favorable with price staying above the cloud, clearly reflecting bullish sentiment.
Combining technical factors with macro news, Bitcoin’s short-term outlook continues to lean bullish. As long as price holds above the $115,500 – $117,000 FVG zone, the next upside target around $119,000 looks well within reach.
Rising trading volumes highlight buyer dominance, while Ichimoku cloud signals remain favorable with price staying above the cloud, clearly reflecting bullish sentiment.
Combining technical factors with macro news, Bitcoin’s short-term outlook continues to lean bullish. As long as price holds above the $115,500 – $117,000 FVG zone, the next upside target around $119,000 looks well within reach.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.