FX.co ★ Trading Signals for BITCOIN (BTC/USD) for September 23-25, 2024: sell below $65,535 (5/8 Murray - 21 SMA)

in the next few hours or in the next few days.

Since September 18, BTC has sharply broken the 4/8 Murray level and since then, we have seen a consolidation above this zone. Therefore, we reckon that the bullish bias prevail in the coming days and the price could reach $65,000 or even the psychological level of 70,000.

If BTC falls below the 21 SMA (63,269) in the next few days, the price could reach 4/8 Murray around 62,500 and even the bottom of the uptrend channel at about 61,625.

Given that Bitcoin is reaching overbought levels, a strong technical correction is likely to occur below 5/8 Murray and then we could look for opportunities to sell below 65,625.