Bitcoin Buy Signal Triggers Another Potential Rally Above $64,000

A fresh buy signal has appeared on the Bitcoin price chart, according to technical analyst Ali Martinez. The 4-hour SuperTrend indicator turned bullish after BTC reclaimed a key support zone at $63,500-$64,000.

The last time this indicator showed a 'buy' signal was on July 3 when the price of BTC was at $57,700. From there, the price moved up to $68,900, a 16% increase before turning into 'sell'.

The chart shows that the trend line around $63,500-$64,000 serves as a support in uptrends and resistance in downtrends. As long as the BTC price stays above this range, the bullish signal remains active.

However, net capital flows remain below zero, indicating that broader macro confirmation has not yet arrived. The current setup suggests another run to $67,000-$68,000, according to CoinCodex's 1-month BTC price forecast.