The Key Catalyst That Could Unlock Bitcoin’s Next Rally: Analyst
BTC when published $83,247Now $80,568 ▼ −3.22% since it was published
At the start of October, the primary cryptocurrency briefly exceeded $87,000, prompting many analysts to suggest that a new bull cycle had begun. Instead of a massive rally, though, the asset has seen increased volatility and has retraced to the current $83,500 (per CoinGecko). However, this doesn’t necessarily mean that the bull run scenario is completely out of the question. Here’s what Ali Martinez thinks could trigger the next big move north. The Key Level The popular analyst paid close attention to $84,000, saying it marks the 50 SMA and could unlock the next rally. He noted that the last time BTC bounced from the bottom of its recent price channel, the 200 SMA held and a 4-hour close above the 50 SMA confirmed the uptrend.
First reported by CryptoPotato. This page is a short excerpt; the full text is theirs.
