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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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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