Ki Young Ju Says Bitcoin Break Above $84,000 Puts Bear-Market End Signal in Focus
Minseung Kang
Summary
- Ki Young Ju said Bitcoin had reclaimed the $83,000 365-day moving average and was now trading above $84,000.
- He said the moving average is a level market participants have watched to judge whether the bear market has ended.
- He added that if Bitcoin holds this level, buying by trend-following investors and institutions could begin in earnest, making this the point where the market starts to get interesting.
Forecast Trend Report by Period
Bitcoin has climbed back above a key long-term trend line, a move that could quickly improve market sentiment if the cryptocurrency holds that level.
Ki Young Ju, chief executive of CryptoQuant, wrote on X on September 21 that Bitcoin had reclaimed its 365-day moving average near $83,000 and was now trading above $84,000.
He said market participants have been watching that line to gauge whether the bear market is over. Holding the level could trigger buying from trend-following investors and institutions.
"This is where the market starts to get interesting," he added.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.