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Analysis: Bitcoin Retests 50-Week Moving Average, May Be on Edge of Three-Month Rally Streak
Bitget2024/09/15 13:30
Crypto analyst Titan noted that Bitcoin recently retested a key support level on the weekly chart that could rally above $90,000, according to Cointelegraph. In previous cycles, when the price retested the 50-week simple moving average, it rallied at least 40 percent. With an average bounce rate of 71%, if BTC rises 71% from here, it could reach $92,000.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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