![The Legend of Zelda: Breath of the Wild – Hila Rao Shrine Walkthrough [HD 1080P]](https://techcratic.com/wp-content/uploads/2024/11/1731866532_maxresdefault-360x180.jpg)
![The Legend of Zelda: Ocarina of Time 100% – Walkthrough [01]](https://techcratic.com/wp-content/uploads/2024/11/1731851301_maxresdefault-360x180.jpg)
![J1772 Charging Adapter for Tesla Model 3 Y S X [Safety Certified] 80A/240 VAC, Easy and…](https://techcratic.com/wp-content/uploads/2024/11/61OZaJ4ykL._AC_SL1500_-360x180.jpg)
Cointelegraph by William Suberg
2024-08-20 06:05:07
cointelegraph.com
Bitcoin sought weekly highs on Aug. 20 as a push above $61,000 brought hopes of a BTC price comeback.
Macro mood can give Bitcoin new “push”
Data from Cointelegraph Markets Pro and TradingView showed local highs of $61,424 on Bitstamp, with Bitcoin (BTC) up 2.4% on the day.
Bitcoin struck a clear contrast to the weekly open overnight, and analyzing the broader macro picture, commentators were optimistic.
In its latest market bulletin sent to Telegram channel subscribers, trading firm QCP Capital eyed “re-leveraging” among stock traders as one ingredient fueling an equities rally.
“Corporate share buybacks have surged to $1.15 trillion this year. Goldman Sachs’ trading unit has seen record client demand for dips,” it reported.
Earlier, Cointelegraph flagged a lack of correlation between crypto and equities, while gold hit fresh all-time highs last week.
“Risk-on sentiment could extend to crypto and gold, pushing BTC higher given the strong demand for topside calls,” QCP suggested.
Further cues on United States financial policy easing are slated to come courtesy of the Federal Reserve at its annual Jackson Hole symposium at the end of the week.
Comparisons circulating on social media show that the S&P 500, in particular, tends to rally after Jackson Hole events.
BTC price range reigns supreme
Turning to Bitcoin itself, an air of caution prevailed. The price is still lodged in a downward-sloping range, unable to break toward key resistance near $70,000.
Related: 3 reasons why Bitcoin won’t be ‘boring’ in September
“Bitcoin squeezed through the 59.5k level over night, taking liquidity above the weekend highs and hitting the upper trendline,” popular trader Mark Cullen summarized alongside a chart showing the various range elements.
“Can $BTC hold 60K now and make a run for the liquidity above the early Aug highs in the low to mid 60Ks?”
Trader and analyst Rekt Capital eyed ongoing copycat moves by price since March’s record high.
“History has repeated itself,” he wrote about the range.
“Bitcoin is now trying to confirm a reclaim of the Channel Bottom as support. Weekly Candle Close above the Channel Bottom would be bullish.”
Credible Crypto was meanwhile among those seeing sideways price action holding firm in the short term.
“Still expect the green zone to hold for now if we do get that but this range may take a bit longer to play out at the same time,” part of his latest X content read, with a chart featuring support at $56,000.
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.
Support Techcratic
If you find value in our blend of original insights (Techcratic articles and Techs Got To Eat), up-to-date daily curated articles, and the extensive technical work required to keep everything running smoothly, consider supporting Techcratic with Bitcoin. Your support helps me, as a solo operator, continue delivering high-quality content while managing all the technical aspects, from server maintenance to future updates and improvements. I am committed to continually enhancing the site and staying at the forefront of trends to provide the best possible experience. Your generosity and commitment are deeply appreciated. Thank you!
Bitcoin Address:
bc1qlszw7elx2qahjwvaryh0tkgg8y68enw30gpvge
Please verify this address before sending any funds to ensure your donation is directed correctly.
Bitcoin QR Code
Your contribution is vital in supporting my efforts to deliver valuable content and manage the technical aspects of the site. To donate, simply scan the QR code below. Your generosity allows me to keep providing insightful articles and maintaining the server infrastructure that supports them.
Privacy and Security Disclaimer
- No Personal Information Collected: We do not collect any personal information or transaction details when you make a donation via Bitcoin. The Bitcoin address provided is used solely for receiving donations.
- Data Privacy: We do not store or process any personal data related to your Bitcoin transactions. All transactions are processed directly through the Bitcoin network, ensuring your privacy.
- Security Measures: We utilize industry-standard security practices to protect our Bitcoin address and ensure that your donations are received securely. However, we encourage you to exercise caution and verify the address before sending funds.
- Contact Us: If you have any concerns or questions about our donation process, please contact us via the Techcratic Contact form. We are here to assist you.
Disclaimer: As an Amazon Associate, Techcratic may earn from qualifying purchases.
