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Bitcoin’s Current Decline Could Be Temporary—Key Signs of A Rally Revealed Newsbtc 24 окт 2024

Bitcoin’s Current Decline Could Be Temporary—Key Signs of A Rally Revealed 📈

Bitcoin has experienced a slight decline, yet signs indicate a potential short-term uptrend, according to CryptoQuant analyst Yonsei Dent. His analysis focuses on the Coinbase Premium Index's influence on Bitcoin's price movements and uses moving averages to gauge momentum.

The daily moving average breaking through the weekly average, known as a "golden cross," is historically positive for Bitcoin. This technical pattern suggests increased buying interest and shifting market optimism.

Bitcoin's price has formed higher highs and higher lows since August, a bullish pattern. The Coinbase Premium Index suggests institutional buying pressure, supporting a short-term rally scenario.

Источник: www.newsbtc.com ↗

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