CandleFocus Analyst Points To Key Bitcoin Metric Indicating A Strong Uptrend—$90K in Sight?
2024-10-19
Author: Content Editor
Bitcoin (BTC) has shown positive price movements and has been on an upward trend, which is appealing to investors. A recent analysis by CryptoQuant indicates that the key metric of "active address momentum" is bullish for the cryptocurrency. The 30-day moving average of active addresses is approaching the 365-day moving average, potentially signaling a further bullish trend if a "golden cross" occurs. However, there is a warning of potential volatility due to a "rising wedge" formation in Bitcoin's price chart. Despite this, Bitcoin's recent price performance has led to optimism among investors, and there are predictions of even higher prices, with one analyst suggesting a range of $90,000 to over $96,000 for Bitcoin's price objective.
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