#Bitcoin Technical Analysis and Price Forecast:
Bitcoin has break above the key psychological price level of $112.3k, If it will make a daily close above this trend line It could extand the rally towards $116K. At the time of writing this on Sunday Bitcoin is trading at $113,503. The FED rate cuts could work as a catalyst and the price rally could continue till $120k$. If the US and China settlement will get done perfectly the $BTC Could make another ATH.
However a negtive can result in fall of Bitcoin Price towards $109K.
Realtive Strength Index (RSI) is at is at 52 higher then the neutral level aiming upward Indicating that the momentum has been shift from bearish to Bullish. Moving Average Convergence Divergence (MACD) has made a bullish crossover also indicating the demand of Bitcoin has been increase.
