In September, Bitcoin has defied expectations by surging 22% from its monthly low, challenging the typically bearish reputation of the month. All eyes are on the $65,200 mark as Bitcoin approaches a crucial point in its trading channel. An analysis using a 10% price increment system reveals Bitcoin's potential for unexpected and significant moves. This analysis also highlights the historical tendency for Bitcoin to trade in prolonged periods of consolidation before making significant moves. While the current downtrend may seem never-ending, the cyclic nature of the market suggests that breakouts often bring significant opportunities. In the current cycle, drawdowns have been reduced compared to previous cycles, providing stability for institutional investors. The third quarter is typically the weakest for Bitcoin, but it has seen a small increase so far this year.
Stock Market Analysts Warned About Bitcoin (BTC): “The Uptrend Has Arrived, But In The Coming Days…”