The price of the currency rose to a high of $64,700, and it was just a short step away from $65,000. This was its seventh rise in eight consecutive trading days.
On September 24, the net inflow of Bitcoin ETFs reached $136 million. The big guys such as iShares Bitcoin Trust made a lot of money, and even the previous losses of Grayscale Bitcoin Trust were made up.
However, Bitcoin is now at a critical moment. The long-term trend is still not optimistic, but it looks quite promising in the short term. If it can quickly break through the key resistance level of 65,000, it can continue to rise. But if it can't, it may face more downward pressure.
Now from the market, Bitcoin has completed the complete three weekly waves, and $73,000 may be the peak price. It looks like a rebound now, but it may continue to fall after the rebound. Of course, it is also possible that Bitcoin will set a new high and fall after five waves.
If Bitcoin can quickly break through $65,000, this bearish divergence may not work. But if the price does not break through this resistance level within a week, the bearish divergence may be more serious and a downward trend may be faced.
