Bitcoin: Heading for a Breakthrough to $68,000?

July and August weren't particularly favorable for Bitcoin. Far from its all-time high reached last March, the leading cryptocurrency seems to be

Bitcoin price has fluctuated significantly over the last two months and now appears to be heading towards a new high. The cryptocurrency is far from the all-time high it reached in March but has been recovering recently.

Bitcoin gave hope to investors by exceeding the $ 64,000 limit for the first time in 20 days since August 23. However, this breakthrough was short-lived and BTC quickly returned to $63,500.

Bitcoin falling below $60,000 is seen as a good buying time for investors.

A return to this critical resistance level indicates the cryptocurrency's continued volatility.

Traders and analysts are now waiting for a decisive breakout that will allow BTC to start a rapid rise towards $68,000.

This scenario is supported by technical analysis, and a similar momentum was observed after passing important levels in previous increases.

If this threshold is maintained, BTC could approach its all-time high.

According to Mister Crypto, “A decisive break through $64,000 could signal a rally towards $68,000.”

Here are the important numbers to watch:

Crypto Market Reaction and Outlook

Recently, Federal Reserve Chairman Jerome Powell's moderate statements increased market enthusiasm. His comments about the possibility of rate cuts contributed to Bitcoin's upward momentum.

Meanwhile, the Relative Strength Index (RSI) shows that the market is not yet overbought, currently at 66.11.

In comparison, at the March peak the RSI was at 79.79, indicating further growth potential before reaching overheating territory.

However, analysts are warning of possible volatility over the weekend, with consolidation likely expected at current levels.

Whether Bitcoin can maintain its momentum will depend on its ability to cross and stabilize above these critical thresholds.

As a result, the Jackson Hole meeting became a turning point for Bitcoin: Jerome Powell paved the way to $100,000.

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