Cryptocurrency

Bitcoin

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 <p class="paragraph">As Bitcoin (BTC) has started to recover the losses suffered during the last cryptocurrency market dip, technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) indicators signal that a more significant rally could be in store for the flagship decentralized finance (DeFi) asset in the near future.</p> 
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 <p class="paragraph">Specifically, Bitcoin has recently <a rel="dofollow" title="cross" href="https://thebittimes.com/tag/cross.html">cross</a>ed its first <a rel="dofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> <a rel="dofollow" title="cross" href="https://thebittimes.com/tag/cross.html">cross</a> (weekly stochastic relative strength index – RSI) at such a low level for the first time since July 2022, according to the observations shared by a pseudonymous cryptocurrency analyst <em>Moustache </em>a.k.a. <em>el_crypto_prof</em> on September 18.</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh3.googleusercontent.com/-NSPtFI8jJG6d-nJLBs9jrRUY3NLlNyrp712YOPQF-XIn6Q-ikWsPUyvY1FVs30pyaiDW27OOfL334EhJ1MKLh35EbtS9y4Wfeapq10Kd0TLO13tiHvCrx7wMmyjG-3QgHmXF0Lfz-DeHwDwbcqj1bw" alt>
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   <em>Bitcoin bullish crosses. Source: </em><em>el_crypto_prof</em>
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 <h2 class="wp-block-heading" id="28000-31000">$28,000 – $31,000</h2> 
 <p class="paragraph">In addition to this <a rel="dofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> sign, cryptocurrency trading expert Ali Martinez has noted a buy signal at Bitcoin’s three-day chart by the TD Sequential indicator, a TA tool created by market analyst Tom DeMark and used to assess the potential trend reversals and continuation patterns in financial markets, including the cryptocurrency market.&nbsp;</p> 
 <p class="paragraph">Indeed, according to Martinez, “a boost in BTC buying pressure might drive prices to the channel’s mid or upper boundary – targeting $28,000 or $31,000.” However, he still recommends watching the “TD Risk Line at $24,500,” which he identified as the “key invalidation point” for the prognosis.</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh5.googleusercontent.com/QLso3dB7FI4i7HtnCsFQAmp-Hp8_9d_JqDCRolNeFtChCr-gpXQr3qRN8Pe65mjr3eltxfabRh0y54cCi4hRWnbNUJdxKZ1QLqYsLf1ni2MQmQnXOOYKl1VUNExvWJfyv_-pMe6sXunLF4gQzqAChlY" alt>
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   <em>Bitcoin price action analysis. Source: </em><em>Ali Martinez</em>
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 <h2 class="wp-block-heading" id="bitcoin-price-analysis">Bitcoin price analysis</h2> 
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 <p class="paragraph">As things stand, Bitcoin is presently changing hands at the price of $27,119, recording an advance of 1.92% in the last 24 hours, as well as an increase of 5.56% a<a rel="dofollow" title="cross" href="https://thebittimes.com/tag/cross.html">cross</a> the past seven days and a 4.67% gain over the previous month, as the most recent charts indicate.</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh4.googleusercontent.com/QwGUIayi43IbKMNJ2PijuteEhhNaopGq584gDtr2EHPHuoPKqU8BfbcSpW_ZL7lvFspUb3FTayh8bo3VlbxOksSg89qLXggkojJFYW00DBMr9ubjCLCQ6QuLA3ljLGAWj9lbZltMgO_tjpfeQIY6ZqQ" alt>
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   <em>Bitcoin 7-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">As it happens, Bitcoin has finally managed to break the important psychological level at $27,000, and further increases could be in store for the maiden crypto asset as long as the indicators remain bullish and keep attracting optimistic sentiment among investors on the wider market.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/bitcoin-crosses-first-bullish-cross-in-over-a-year-what-next-tbt63079.html">https://thebittimes.com/bitcoin-crosses-first-bullish-cross-in-over-a-year-what-next-tbt63079.html</a></p>

Bitcoin crosses first bullish cross in over a year; What next?

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