Bitcoin history repeating? 3 indicators suggest October will reignite the BTC...
The flagship cryptocurrency has closed October in profits seven out of nine times since 2013, raising hopes that it would be able to log a fractal bull run in the next 31 days. Bitcoin (BTC) failed to break the so-called September curse as its price fell by a little over 7% into the month despite a strong rebound rally right ahead of its close. Nonetheless, Bitcoin looks to be making a comeback in October, a month known for painting aggressive bullish reversals.Bybt data shows that Bitcoin has closed October in profits the majority of the time since 2013 — with a success rate of over 77%.....
Related News
Mark Twain said that history doesn’t repeat, but it often rhymes. Such a scenario could be about to play out in Bitcoin, according to a potential fractal that mimics the setup before a previous record-breaking rally. While the conditions aren’t quite the same for an exact repeat, there could be enough for the price action now and then to rhyme just enough. Let’s take a closer look. Record-Breaking Bitcoin Price Fractal Found, But Is It Valid? Markets are cyclical and patterns repeat in those markets so often, they can be used to predict the future. Most of the....
This op-ed is all about inspiring you to look at the future from a different perspective. Getting you to look at the world, at Bitcoin, and how they fit together in a totally different fashion. People today are all caught up in the US Dollar price of Bitcoin and the ups-and-downs of Bitcoin's value relative to a fiat currency. That misses the entire point of what Bitcoin is, and why it's here. It's here for you. It's not here to compete with dollars, for dollars. And Bitcoin can make history, most likely by repeating history in its own image. Also read: The Promise Of Bitcoin Is Important,....
The price of bitcoin has been steadily riding up the ascending channel pattern over the past week. Over the course of the early morning on October 11, the cryptocurrency’s value has finally had a breakout, trending upwards to a high of $636 USD. Bitcoin Price Trends Upward, Puts the Pedal to the Metal- Last month, Bitcoin.com’s detailed analysis had....
As the bull rally continues, some Bitcoin technical indicators may suggest the biggest BTC buy signal since April 2020 is here. Bitcoin Closes Above 21 Week MA And 200 Day MA As pointed out by a CryptoQuant post, the cryptocurrency has made a weekly close above the 21-week and 200-day moving averages (MAs). The Bitcoin moving average is a method used to smooth out the price data by taking the average price over a specific period of time. For the 21-week MA, data from the past 21 weeks is used, while for the 200-day MA, prices from the last 200 days are used. This method “smooths....
The most recent balance between bid and ask prices is over, setting the bitcoin price on an upward path to $820, where another congestion area may be observed. Aside from the market determined by the biggest traders, which can be seen through volume indicators during the previous two sideways lateral movements, natural demand supremacy allows prices to leave the $580-$600 support area. Now, the new technical objective is the $820 level without intermediate resistances, in a bull pattern that could be a fast rally to place the quotes into a new formation that would drive the action even....