Basic Points:
-
Bitcoin saw a repeated bull signal from the MACD indicator, which last arrived in early April.
-
The price then climbs 40% a month, which at this time will give BTC a $ 160,000 target.
-
US macro data quickly produces bullish traders in Bitcoin.
Bitcoin (Btc) could have reached $ 160,000 in September as a classic onchain indicator that had bullish.
New findings From popular businessman Bitbull revealed a key “Golden Cross” to moving the average chart of Bitcoin’s Average Convergence/Divergence (MACD).
Bitcoin Macd repeats April Golden Cross
Bitcoin can perform worse in September than any other month on average, but this year can develop a major exception.
MacD, which one Compares to price action Throughout the shorter and longer hours using two simple moving averages (SMA), offered bulls a reason to celebrate.
On September 5, the MACD line, a SMA derivative, crossed above the signal line, which was a 9-period exponential transfer of the average (EMA) of the MACD line used for the purchase and sale of signals.
It has a positive implications for short-term price strength, but this latest cross is more interesting.
“Bitcoin had just had a MacD Golden Cross in the sunny hours. But this one was a bit different,” Bitbull explained this week.
“For the first time since the April Bottom, the BTC has a MacD bullish cross below 0 lines.”
The negative values of the MACD reflect the local dowrends, and the cross provides fresh fuel for a market rebound.
“Last time happened, BTC rallied 40% a month and hit a new ATH,” Bitbull said.
If history is repeated, BTC/USD will reach $ 160,000 popular price target for a high 2025.
Inflation data boosts BTC price feelings
Bullish feelings continue to flow back to crypto thanks to macroeconomic shifts.
Related: Bitcoin price cycles that ‘get longer’ as the new forecast said $ 124k not the top
US inflation data is Buoyed risk assets and goldwith expectations favors deductions in interest rate by the Federal Reserve to restart from next week.
The August Printing of the Consumer Price Index (CPI) is due on Thursday, along with entrepreneurs who are diligently seeing a positive result that constitutes the BTC price.
“If we get a similar printing, it will confirm the rate cut this month, and the markets will be positive to react,” Jelle’s famous businessman Summary In part of the pre-CPI market scope in X.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
