Bitcoin $55,278.30 While the volatile price movements for continue, investors seem to be anxious about when a new rise may begin. Especially since past data indicated a decline for BTC in September, it was seen that this uncertainty in the market was deepening day by day. Despite this, parallel to the recent rise, three different analysts were seen to be optimistic about the possible rise of BTC and continued to express bullish views.
Bitcoin Comments
As the Bitcoin price started to rise again today, analysts continued to make positive statements. The point that all analysts drew attention to was that October, known as “Uptober,” was approaching. October is generally known for bringing an increase in cryptocurrencies. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
First, when we look at Rekt Capital’s comments, it was seen that for the scenario ahead of the rise, support was indicated at $ 53,250 and resistance was indicated at $ 55,881.
The analyst’s comments were as follows:
The good news is that Bitcoin has a Weekly Close above ~$53250 to protect the bottom of the bargain-buy area (orange) formed below the black Downtrend Channel. To continue this momentum, Bitcoin will need to reclaim $55,881 (blue) as support and attempt to reclaim the bottom of the black channel.
Secondly, when looking at the comments made by Trader Tardigrade, it was seen that he commented that a new rise may be approaching.
#Bitcoin monthly RSI broke out of U-curve in May 2024, which could trigger $BTC to consolidate for 3 to 6 months based on previous behavior. BTC completed 4 months of consolidation after RSI breakdown. This means $BTC could rally again anytime after that.
Finally, Crypto Rover, one of the important names in the market, was seen emphasizing October and shared a chart:
September is always bearish for #Bitcoin.
But the wait for Uptober will be worth it.
How Many TL is Bitcoin?
The decline that has been going on for days in Bitcoin gave way to a stable appearance yesterday, but today incredible increases were seen in the past few hours. The BTC price rose to $ 56,700 after an increase of more than 4% in the last 24 hours, revealing the clearest price increase seen in recent times.
In addition, the price of the BTC/TRY parity was seen to be at the level of 1,932,000 TL. Today’s increase in price pushed BTC’s market volume away from the critical threshold of 1 trillion dollars and increased it again to 1.119 trillion dollars.
BTC’s trading volume increased in parallel with the price increase and exceeded $32.8 billion after a 104% increase.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
