Prominent analyst Benjamin Cowen says Bitcoin (BTC) will face a vital check in September that might determine the future for Bitcoin’s bull market.
In one Video Newly, Cowen claims that Bitcoin has retested its 20-week shifting common each September since 2016 and can both break or ricochet from there.
“August could possibly be a very good month for Bitcoin. But September is extra fascinating for me, why? Because Bitcoin retests the 20-week shifting common each September for the previous 5 years. “
Cowen mentioned if Bitcoin retests the 20-week shifting common, the response of market contributors may herald BTC price motion over the subsequent a number of months.
“What I feel may occur in September is retest the 20 week MA – if the price bounces off, Bitcoin may proceed to rise in October, November, December and past January third and 4th – which is final Year did. ”
BTC / USD weekly chart | The supply: Benjamin Cowen
Cowen says that whereas the bulls could also be involved a couple of correction to the 20-week MA from now close to $ 43,500, it could possibly be a re-test of the uptrend.
Hence, it will possibly provide an ideal purchase place for these on the sidelines.
BTC / USD weekly chart | Source: Benjamin Cowen
nothing
According to Dailyhodl
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
According to the Greeks.live, there was a significant expiry event this week, as 344,000 BTC…
Dubai, United Arab Emirates, 8th November 2024, Chainwire
Upbit's planned listing includes DRIFT trading pairs for the Korean Won, Bitcoin, and Tether.
Bitcoin Spot ETF Inflows reach $1.376 billion on November 7, with BlackRock ETF IBIT seeing…
Detroit will become the largest U.S. city to accept crypto payments for taxes and fees…
Trump's transition team is considering Robinhood Chief Legal Officer Dan Gallagher for SEC chair, with…
This website uses cookies.