We set the Coinbase Premium Index to a 1-hour time frame and examined the short-term momentum of the indicator using the daily (24hr) and weekly (168hr) moving averages. As a result, it was confirmed that when the daily moving average strongly breaks through the weekly moving average, the price movement also showed significant results. Looking at the past Bitcoin price movements and indicators, we can see that when it tries to form a golden cross, as indicated by the gray area, the price also showed a short-term increase.

The current daily moving average has temporarily broken through the weekly moving average (black arrow). Also, the current price of $66.4k is a section where we can expect support for the September high.

As the higher highs and lows, where the lows and highs have gradually increased since August, continue, we expect the market to build a clear upward structure.

Written by Yonsei_dent