Bitcoin is headed for a long-term support retest, data suggests, after BTC price action fell into the August monthly close. BTC/USD 1-hour chart. Sour
Bitcoin is headed for a long-term support retest, data suggests, after BTC price action fell into the August monthly close.Reversing gains seen last week, BTC/USD is back below $26,000 as of Sep. 1, data from Cointelegraph Markets Pro and TradingView shows.
A decision by the United States Securities and Exchange Commission to delay a slew of Bitcoin spot price exchange-traded fund applications forced a rethink, withNow, observers are concerned that even current levels may fail to hold the market up for long. Ali uploaded a chart of the UTXO realized price distribution metric from on-chain analytics firm Glassnode.
Using signals from one of its proprietary trading tools, Trend Precognition, Material Indicators advised that $24,750 needed to hold for bulls to have a chance at clinching a rebound.
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