Bitcoin Prices Indicate Market Likely Trend
Bitcoin slumped overnight and is well below its March all-time high, with investors searching for the next catalyst to drive prices higher as the launch of spot bitcoin ETF expectations slips into oblivion.
The lead cryptocurrency has only generated a positive return three times in September over the last decade, according to data from crypto analytics site Coinglass.
Bitcoin’s price has traded within a descending channel since early July, with volumes remaining mostly subdued throughout the pattern, indicating lackluster investment interest.
Investors should watch bull case price levels around $68,500 and $72,000, while monitoring bear case price levels near $53,000 and $47,000.
Think about this, do your due diligence and trade with informed care.
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