Bitcoin Could Hit Bear Market Bottom Soon

 Explore the provided link to achieve a steady profit in Binance futures trading: https://telegram.me/btctradingclub

Bitcoin could confirm an August bear-market bottom, though rising Treasury yields could force the Fed to raise rates in September, according to 10x Research.

Bitcoin could confirm a bear-market bottom in August with a monthly close above $63,000, according to 10x Research.

Markus Thielen, founder of 10x Research, said in a Monday report shared with Cointelegraph that Bitcoin closed July below the threshold needed to confirm a technical bottom.

A monthly close near $63,000 would turn several of 10x Research’s cycle indicators bullish. Bitcoin was trading at $63,140 when the analysis was prepared, meaning a relatively small gain from July’s closing level could trigger the reversal signal. The company said it continued to favor long positions but would shift to a neutral stance if Bitcoin broke key support levels and moving averages.

The base case is that the Federal Reserve holds interest rates steady. However, further increases in the 10-year Treasury yield could force a September rate hike, while the Iran conflict remained an unpredictable risk.

The report said miners could generate roughly 100,000 BTC of selling pressure as some miners shift their businesses toward artificial intelligence. The company said it expected additional supply from Bitcoin treasury companies unwinding positions, though it described macroeconomic conditions as the larger risk to the market.

We are committed to delivering the highest quality signals to the trading community.

Trading on #Binance is highly lucrative, and traders worldwide recognize its potential.

Join our Binance Group to be part of the top Binance Trading community, just like numerous other traders.

Come and join our Binance Group and profit with the Binance Futures BOT.

Comments

Post a Comment

Popular posts from this blog

Charles Schwab Expands Crypto Access With BTC and ETH Trading

Image
Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://telegram.me/progrouptraders Charles Schwab's latest offering is currently unavailable to residents of New York, Louisiana, and users outside the United States. Charles Schwab has started rolling out its new Schwab Crypto accounts to retail clients, allowing users to trade Bitcoin and Ethereum directly through the platform alongside traditional investments, starting Tuesday. The offering is currently available to most residents in the United States, although residents of New York, Louisiana, and US territories are excluded at this stage. Schwab Crypto accounts are also not yet available to international users. Schwab Crypto Rollout According to the announcement, the first group of eligible clients can begin accessing crypto trading. To open a Schwab Crypto account, users must already have an eligible brokerage acco...
Read more

Open Interest Increase Spurs Bitcoin Price Target of $71.5K

Image
Maximize Profits with Binance Futures Trading: Free Bitcoin Trading Signals Binance Futures Trading Bot for Best Automated Trades Join Us: Binance Future Signal Telegram - https://telegram.me/binancefuturesignal Bitcoin may be gearing up to move above $70,000 now it has reclaimed a critical level that traders have been closely watching for the past two months. Bitcoin could be headed toward the $71,500 mark after breaching the $65,000 price point on Tuesday, based on historical patterns as observed by crypto traders.  The price rebound has also increased interest among future traders betting on Bitcoin’s near-term price movements. Massive profits made from this call Binance Futures platform shares the same infrastructure as their spot trading exchange, Binance. Integrating our Cornix trading Bots with your Binance Futures account is quick and easy. It takes only a few minutes to configure, and you never need to grant withdrawal permissions. Use the Binance Futures Cornix Trading Bo...
Read more

Crypto Market Cap Gains $90 Billion !

Image
Visit this link and make consistent profit in Binance futures trading, receive free bitcoin trading signals and Cornix trading Bot for the best automated trades – https://t.me/progrouptraders The crypto market cap is up by roughly $90 billion in a day as bitcoin tapped another three-month high of just under $47,000. Some great profits for the Special Members Daily Futures Signals as per the Market with high a accuracy of 90%+ on an average. If you are too busy for Manual Trading on Binance Futures Market then you can go for the highly powerful Binance Futures Cornix Bot which copies Signals for you as per take profit and stop loss all automatically. Please click on the above link for more details.
Read more