Bitcoin Price Weekly Outlook

Bitcoin price closed last week at $115,333, rejecting the $118,000 resistance level. After three straight weeks of gains, Bitcoin bulls finally lost steam — and the Fed’s rate cut wasn’t enough to break $118,000.

The U.S. Federal Reserve cut the key interest rate by 25 basis points as anticipated, which provided a boost for markets to close out the week, but it wasn’t enough. Bitcoin price made a move to $118,000 on Thursday after the Fed’s announcement, but was pushed back just shy of this critical resistance level. Sunday’s close gave us a shooting star doji candle for the week, signaling a likely reversal in price action heading into…

Read more on BitcoinMagazine