Bitcoin Breaks 1-Year Downtrend, Posts First Higher High Since $126,000 Peak
JH Kim
Summary
- Market analyst Gert van Lagen said Bitcoin (BTC) has broken above a downtrend that lasted for about a year.
- He said Bitcoin had posted a new high above its previous peak for the first time since reaching its all-time high of $126,000.
- Van Lagen described the move as a technical signal that Bitcoin's price structure is changing.
Forecast Trend Report by Period
Bitcoin has broken above a downtrend that had held for about a year, according to market analyst Gert van Lagen.
Cointelegraph reported on September 21 that van Lagen said Bitcoin had moved above its long-term descending trendline.
He also said Bitcoin had posted a new high above its previous peak for the first time since reaching its all-time high of $126,000.
Van Lagen described the move as a technical signal that Bitcoin's price structure is changing.
Bitcoin was trading at $85,956.64 as of 3:40 a.m. on September 22 on Binance's Tether market, up 5.87% from a day earlier.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.