Bitcoin remained above $64,000 during the weekend and climbed to just over $65,000 on Monday. Crypto analyst Doctor Profit identifies this zone as a crucial buying area, with the 200-week moving average (MA200) running through its lower end. His strategy focuses on accumulating between $54,000 and $64,000 with a target average entry around $58,000, which he considers a phenomenal entry even if Bitcoin bottoms near $54,000. This week’s Federal Reserve policy meeting is a key macro event, with a 65% probability of rates remaining unchanged and over 80% expectations for a September cut. Trader Ardi notes that the current rebound will determine whether the bullish pattern remains intact, with Bitcoin needing to reclaim the $67,000 level to open the door toward the $69,000-$70,000 range.
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