Analyst: “Will History Repeat?”
Analyst Lark Davis is expecting a rise in Bitcoin price. A bullish crossover on the MACD had previously triggered the $9,000 rally. According to Davis, Bitcoin price may experience a rapid rise. Many experts say that closes above $27,200 are positive for the continuation of the uptrend, but the $27,600 resistance has not been overcome permanently yet. If the recurring movement in the past happens again, according to Davis’ theory, exciting days can begin in BTC and altcoins. Lark Davis wrote:
Bullish crossover on daily MACD for Bitcoin! The last time we had a similar crossover, Bitcoin went from $22,000 to $31,000. Will history repeat itself?
Fed minutes will be released soon, with US Treasury Secretary Yellen speaking first. The statements he will make about the debt ceiling may activate the crypto money markets. Although the deal is considered to be certain, as the date is postponed, the anxiety of the investors increases. We’ll see unemployment and GDP data arrive on Thursday. These two data do not have a serious effect on crypto, but they can indirectly lower / increase Bitcoin as abnormal figures will fluctuate the dollar index.
On the macro front, the US Core Personal Consumption Expenses Price Index will arrive on Friday. Most likely, after today’s minutes, the market will have determined its direction (unless there are extreme anomalies in the new data). While Bitcoin is attempting this, the simultaneous resolution of the debt ceiling issue may increase the acceleration of the rise.
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