Bitcoin Just Crossed the Line that Ended 4 Out of 5 Bear Markets, but One Deadly Historical Trap Could Still Trigger a Crash to $62,000
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The bitcoin has just briefly exceeded 82000 dollars. It thus crossed its moving average at 50 weeks. This threshold has accompanied the end of four of the five previous comparable cash markets. Nevertheless, the signal remains incomplete, as it must be attested by a weekly end. A failure under the zone of 81000 to 86,000 dollars would place the supports of 71800 and 62000 dollars at the center of the exchanges. The Bitcoin article crosses a deci…
CryptoSlate
BITRSSBitcoin just crossed the line that ended 4 out of 5 bear markets, but one deadly historical trap could still trigger a crash to $62,000
Bitcoin registered an intraday high above $82,000 on Sept. 3, pushing above the 50-week moving average that Galaxy Research says marked the definitive end of four of Bitcoin's five comparable completed bear markets. Galaxy's signal requires a weekly close above that line, and the Sept. 3 push through it happened well before the week's close. […]
The cryptocurrency market saw increased activity on the last trading day of the week. Bitcoin, rising on the strengthening expectation of a Fed interest rate cut, tested the $82,000 level again for the first time in months. Investors are now focused on the critical resistance level of $82,793.
The cryptocurrency prolongs its rally and for the first time since May exceeds the $82,000 barrier, driven by the advance of the Stock Exchange and the monetary precautionary signals launched from the Federal Reserve.
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