As Bitcoin (BTC-USD) dances around the $64,000 mark, traders are buzzing with optimism, fueled by a stellar 7% gain in September. This month’s close not only marked a record-breaking end for September but also kept hopes high for Bitcoin to reach new all-time highs. Recently, BTC/USD bounced back after a brief dip, closing September at $63,300—its best ninth month ever, according to CoinTelegraph.
Traders Eye Dips as Buying Opportunities
With Bitcoin showing resilience, traders like Scott Melker, known as “The Wolf of All Streets,” are keenly observing the market for potential buying opportunities. “Now we look for dips to buy as it potentially establishes another higher low,” Melker noted, reinforcing the sentiment that these fluctuations could pave the way for sustained upward momentum.
Key Indicators Signal Potential Upside
The technical indicators are also painting a positive picture. Keith Alan, co-founder of Material Indicators, emphasized the importance of maintaining the 21-week simple moving average (SMA), stating that it helps avoid a “retest” of lower price ranges. Meanwhile, trader Roman hinted on X at bullish divergences forming on shorter timeframes, suggesting that upward movements may be on the horizon.
At the time of writing, Bitcoin is sitting at $63,843.43.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
