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🇨🇳 Bitcoin Goes With China 

Word On The Street: Bitcoin surged to a new two-month high on September 27, following China’s latest economic stimulus measures that sent its stock markets soaring.

The details:

• TradingView revealed that BTC/USD reached a local high of $66,194 on the Bitstamp exchange.

• Bitcoin received an extra boost from China’s economic actions, which saw the Shanghai Composite Index experiencing its best week since 2008.

• Despite a slight pullback from its recent high, Bitcoin continued to hold crucial support levels, maintaining stability around $65,000.

Why it matters: While Bitcoin is currently lacking a higher high to push through resistance, the market could see a surge if fear of missing out kicks in.

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Traders Corner (Premium)

Welcome, Traders!

Traders Corner is the premium section of The Blockstreet Journal. We provide one free report out of appreciation ❤️ 

Reports from our analysts today:

• PEPE Technical Analysis (Free)

• SUI Technical Analysis (Paid)

• Shiba Inu Technical Analysis (Paid)

TRADERS CORNER
🐸 PEPE Technical Analysis

PEPE is trading around $0.000010771, slightly above the middle VWAP band at $0.000010558. This indicates a neutral to slightly bullish momentum as the price is currently hovering around the middle and upper VWAP bands, suggesting that buyers still have some control.

Trend Analysis:

The chart reveals a recent uptrend, with a sharp rally pushing PEPE above the upper VWAP band, accompanied by a significant increase in volume, indicating strong buying interest. Following the surge, the price has been consolidating near the upper VWAP band, which is a typical behavior after a sharp upward move.

The widening of the VWAP bands indicates increased volatility, which could signal that the market is preparing for a further directional move. The consolidation near the highs shows that bulls are maintaining their position but are currently encountering some resistance.

Support and Resistance:

- Resistance: The immediate resistance is near the recent high at $0.000010817. If PEPE manages to break above this level, the next target would be around $0.000011075.

- Support: The first key support level lies at the middle VWAP band around $0.000010558. If the price breaks below this level, the next support is at the lower VWAP band around $0.000010300.

Potential Scenarios:

Bullish: If PEPE maintains its position above the middle VWAP band and buying pressure resumes, it could retest the $0.000010817 resistance level. A break above this point could drive the price toward $0.000011075, signaling a potential continuation of the uptrend.

Bearish: If PEPE fails to hold its position near the current levels and breaks below the middle VWAP band at $0.000010558, the price could move toward the lower VWAP band at $0.000010300. A break below this support could signal a shift in sentiment, potentially leading to further downside.

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