Analysis: "BTC's Bear Market Likely to Prolong Until October"
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Coin Bureau founder Nic Puckrin analyzed via X, “Bitcoin (BTC) has now closed below its 100-week moving average (100W MA) for the third consecutive week and has now spent 14 days below the long-term trendline. Historically, the average time spent below that trendline is 267 days, and the shortest period was 34 days during the COVID-19 crash in 2020. Therefore, while a short-term rebound is possible, a period of bearish momentum is more likely.”
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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