So far, Bitcoin has seen a mixture of bulls and bears just in the past day alone. Although bulls appear to be taking the lead given its current market performance, will this be sustainable?
Before the US Federal Reserve announcement of the rate cuts, Bitcoin experienced a slight dip in its trading price. However, following the announcement, the leading crypto saw a sudden price surge, reclaiming the $60,000 mark.
Bitcoin continues to show bullish strength, trading at $63,006, reflecting a 5.6% increase over the past 24 hours.
Is This Bitcoin Rally For Real?
The sudden bullish performance from Bitcoin recorded over the past day has had several traders and analysts sharing their respective outlooks on the asset, with many focusing on the next potential trajectory of Bitcoin’s price.
Despite the ongoing upward momentum, some experts urge caution, highlighting underlying market signals that could impact the sustainability of this bullish trend.
One such expert, crypto trader Josh Olszewicz, shared his insights on this matter, suggesting that while the current picture appears optimistic, there are still some concerns to consider before expecting a continued uptrend.
According to Olszewicz, Bitcoin’s recent move led it above the daily Ichimoku Cloud—a technical analysis indicator used to gauge market trends—signaling a potential bullish scenario.
However, he emphasized that this indicator alone does not guarantee a sustained upward trend. Specifically, Olszewicz pointed out that the Cloud and the Tenkan-Sen and Kijun-Sen (TK) cross are still in a bearish formation.
We are once again back above the daily Cloud, although we still have a bearish Cloud and bearish TK cross.
Additionally, the previous three Kumo breakouts this year have gone no where. So although this is a certainly more bullish picture than a few days ago, Cloud does… pic.twitter.com/bmlqKM9g6c
— #333kByJuly2025 (@CarpeNoctom) September 19, 2024
What Will Result In A Sustainable Rally?
For a more definitive bullish signal, the Cloud needs to flip into a bullish mode, along with a bullish TK cross, Olszewicz disclosed. This setup would provide a stronger confirmation for a bullish continuation.
Olszewicz also noted that previous Kumo breakouts this year have failed to lead to significant price gains, adding uncertainty to the current breakout.
He suggested that analyzing Bitcoin on a longer timeframe, such as the two-day Ichimoku Cloud, might offer a clearer perspective.
A bullish breakout on this timeframe and an eventual bullish TK cross could provide a more reliable indication of a sustained bullish trend for Bitcoin.
Featured image created with DALL-E, Chart from TradingView
Samuel Edyme
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
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