Greed

bullish

Bitcoin

when

<ul class="wp-block-list">
 <li>Bitcoin price dropped by 1.63% in the last 24 hours, trading at $62.8K.</li>
 <li>BTC has entered into the neutral zone in the market</li>
</ul>
The Bitcoin price displays a brief bullish sentiment, attempting to hit a higher value after the recent break-out above $63K. The largest cryptocurrency managed to trade within the $60K range for the past three days. The analysts speculate that the asset could hit a new all-time high (ATH) before this year ends, and it might be the beginning of a sustained bull run.
However, in the first week of <a href="https://thenewscrypto.com/bitcoin-faces-massive-net-outflow-as-september-struggles-continue/" target="_blank" rel="noopener noreferrer nofollow">September</a>, the asset underwent heightened selling pressure and plunged to a one-month low of around $52,827 on September 7, bringing in a strong bearish wave to the cryptocurrency market. Moreover, BTC hit a high of $64K over the last day and is currently down by 1.63%.&nbsp;
Notably, BTC climbed from a low of $62,364 to a high of $64,023. At the time of writing, Bitcoin traded at $62,848, and the daily trading volume has dropped by over 26.90% to $29.83 billion, according to CMC <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">data</a>.
As a result, BTC has entered the neutral zone, as the Fear and Greed Index remains at 54. Reportedly, Bitcoin has witnessed a 24-hour liquidation of $23.33 million, as per Coinglass <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">data</a>.&nbsp;
On the other hand, a total of 250 BTC, valued at approximately $15.95 million, was transferred from five addresses that were dormant for nearly 16 years. These Bitcoin addresses each <a href="https://thenewscrypto.com/bitcoin-miners-struggle-continues-amid-august-production-decline/" target="_blank" rel="noopener noreferrer nofollow">mined</a> 50 BTC at block heights 2247, 2401, 2455, 2486, and 2690, respectively.
<h3 class="wp-block-heading" id="h-what-s-ahead-for-btc-price">What’s Ahead for BTC Price?</h3>
BTC started trading in the $60.3K range when the week began and spiked above 4.20%. Gradually, the token’s price fell back to a low of $57,594. As days progressed, the downside pressure broke, and the token climbed to the $63K range.&nbsp;
Bitcoin’s recent brief spike in price has pushed it above the critical resistance level of $62,780. While this rally is notable, BTC might likely retest the $63,633 resistance shortly. However, a failed retest could see the asset drop to seek support around the $62.4K range.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfiDNyUr2jT3qgzUFHsDj-XNDnmZMW6GhaNoeYiYxz8HXRJKb7S38bqrO97X1q4dPczLn7O7EDuoz6ZGQDnPzCup6RN5xZpP4CkduTCbrDM4547EKHsb1D11_73CaSx6KjTgIAW2_0uIxCjt6Khc7ZujiU?key=Beaz_kPXH5qERwDwgWqDVQ" alt="">
 <figcaption class="wp-element-caption">BTC price chart (Source: <a href="https://in.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
The technical indicators of BTC display the short-term 50-day and the long-term 200-day moving averages below the current price momentum, indicating a brief bullish trend in the market. Meanwhile, the asset is in the neutral zone, as the daily relative strength index (RSI) stands at 61.80.&nbsp;
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Can Bitcoin (BTC) Break Through the $65K Resistance?

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