The digital currency Bitcoin has witnessed clear price fluctuations since the beginning of September. However, Bitcoin started trading with slow and cautious price movement two days ago, due to the volatility of the dollar price, which directly affects global financial markets.
Current Bitcoin Price and Moving Average Trading
The Bitcoin price is currently trading at $57,884, and is still above most of the moving average intersections, indicating that some relative stability remains in the market despite recent fluctuations. This signal is somewhat positive, but not without caution.
MACD Indicator and Weak Purchasing Power
The MACD indicator indicates the emergence of weak purchasing power and an upward trend, which may herald a decline in Bitcoin’s positive momentum. This signal may indicate the possibility of continued price volatility in the coming days.
Trading strategies based on Buy/Sell levels
| BTCUSD | In case of buying | in case of selling |
| Entry point | 58104 | 57686 |
| Target Point 1 (TP1) | First resistance: 58499 | First support: 57314 |
| Target Point 2 (TP2) | Second resistance: 58600 | Second support: 57200 |
| Stop Loss (SL) | 57686 | 58104 |
Despite the relative stability of the price above the moving averages, the appearance of weakness in purchasing power according to the MACD indicator calls for caution. Traders are advised to monitor the situation closely, especially in light of the dollar fluctuations that may affect the movement of Bitcoin in the coming period.
