bullish

Strong

Bitcoin

Time

would

While the leading cryptocurrency Bitcoin (BTC) last broke through $124,000 in mid-August, it has been on a downward trend ever since.
However, it was stated that the decline period for BTC is over.
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At this point, Bitfinex's weekly report stated that Bitcoin stopped the 3-week decline and was preparing for recovery in the 4th quarter.
Bitcoin halted its three-week decline and reclaimed the $112,500 support level, according to the Bitfinex Alpha weekly report.
Bitfinex analysts noted that the breakout of the critical $112,500 support level paves the way for BTC’s potential upward momentum in the fourth quarter.
At this point, analysts added that a clear and decisive break above $116,000 would strengthen the bullish outlook.
<blockquote>
 “Bitcoin defended the $107,500 lows.
 This recovery from the bottom indicates a significant structural recovery, setting the stage for stabilization by the end of September and a potentially stronger rally in the fourth quarter.
</blockquote>
<h2 id="bitcoin-consolidation-continues-for-now">Bitcoin Consolidation Continues for Now!</h2>
Analysts noted that on-chain data also supports the recovery and possible rise, noting that a clear move above $116,000 would confirm and strengthen the renewed upward momentum.
Analysts recently stated that Bitcoin will remain in consolidation until the 4-quarter rise begins.
<blockquote>
 Bitcoin closed the week up 4.2%, snapping a 3-week decline and reclaiming $112.5K.
 Buyers stepped in hard around $108,000, with the $110,000-$116,000 range now the key competitive area.
 A clear breakout above $116,000 would confirm the bullish momentum. Until then, the base case is consolidation.
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitfinex-analysts-explain-bitcoin-btc-poised-for-a-strong-uptrend-it-just-takes-a-little-time-to-break-this-level/" rel="noopener noreferrer nofollow">Bitfinex Analysts Explain: "Bitcoin (BTC) Poised for a Strong Uptrend! It Just Takes a Little Time to Break This Level!"</a>

Bitfinex Analysts Explain: "Bitcoin (BTC) Poised for a Strong Uptrend! It Just Takes a Little Time to Break This Level!"

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