Bitcoin's Trading Range Extends Beyond 125 Days as September Shows Resilience

2024-09-24 10:23

Bitcoin (BTC) has shown remarkable resilience this September, a typically bearish month, surging 22% from its monthly low of about $52,500. All eyes are now on the critical $65,200 mark, with market participants watching closely to see if it can break out of the current downtrend. Since climbing to a record high back in March, the largest cryptocurrency has been trading in a prolonged downward channel, creating a sense of ennui for many investors.

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Today 2024-09-24

13:22

Data: BlackRock has purchased 354173 BTC worth approximately $22.5 billion since January of this year

13:22

Main password: US ETF net inflow for 3 consecutive days, BTC main trading volume exceeds $500 million, bet on this direction

13:20

BTC perpetual opening of 6.95 million pending orders, or guiding price direction, please pay close attention

13:02

The main force has strong confidence in the future market

13:01

Three Kingdoms College: High level consolidation continues, market panic continues to increase, where is the market going?

Click on the link to enter the live stream: https://meeting.tencent.com/p/7890471408 Golden September and Silver October, Winter is Coming, Wolves Live Together, Lone Wolf Dies Daily trend of Da Bing From the daily trend of the big pie chart, we can see that the market has experienced another round of rapid rise and reached a high of around 64000. The market has started a cycle of correction, and the retracement position has been formed in the 63000-62000 area after multiple rounds of consolidation, forming a high-level consolidation. The MACD indicator below has always been bearish, and if it does not break 65000 above, we can see the rebound trend in the 60000-61000 area below. The market will continue to rise and continue to explore and rebound three times, opening up the October upward trend. Auntie's intraday trend From the daily trend of Auntie's chart, we can see that Auntie's rebound has been much more intense than that of Da Bing recently. After repeatedly hitting the 2700 position ahead, the market experienced a correction around 2600 after breaking through 2700 yesterday. The MACD indicator below also showed a strengthening of bearish sentiment. As long as the intraday trend continues to decline to the 2530-2550 area, there will be another rebound trend, followed by a wave of decline and a correction in the 2300-2400 area. The first-line market will continue to rise. In terms of news, the gray selling pressure has weakened, institutions continue to increase their bottom fishing efforts, retail investors have cut their meat and left, and a 50 basis point interest rate cut was implemented in September. In this rebound led by Bitcoin, we have witnessed the power of technical analysis and the infinite possibilities of the market. Let's remain calm and continue to follow, because the story of Bitcoin continues. Welcome to the live broadcast room for communication, and at the same time, share practical knowledge and secret tactics! What will the market do next? Professor Pang Tong, who has ten years of theoretical and practical trading experience in the cryptocurrency industry, will provide a detailed breakdown for everyone. Welcome to the live broadcast room to check in! Join the Three Kingdoms College Exchange Group to receive more services: 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Tencent Meeting Number: 789-047-1408 QQ group number: 271175137 Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent AICoin's position or viewpoint and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AICoin, and the consequences shall be borne by oneself.