A higher low happens in a down-trending market when the last dip is not as deep as the previous one. This could be a sign of trend reversal as selling pressure wanes.<\/p>\n
The last dip saw BTC prices plunge to a low of $53,300, which was not as deep as the Aug. 5 crash to just below $50,000. The low before that was a plunge to $54,200 on July 5, so the asset seems to have found solid support.<\/p>\n
This was observed by analyst \u2018Mando\u2019 in a post on X on Sept. 10, however, others pointed out that this doesn\u2019t rule out further lower lows.<\/p>\n
Did BTC just put in its first higher low in 6 months? pic.twitter.com\/1Bn9fnwTSV<\/a><\/p>\n \u2014 Mando (@rektmando) September 9, 2024<\/a><\/p>\n\n $BTC<\/a><\/p>\n Causally putting in its first higher low in almost 200 days\u2026<\/p>\n Potential rate cuts next week\u2026<\/p>\n Fear & greed \u2013 extreme fear\u2026<\/p>\n Bottom signals flying left and right\u2026.<\/p>\n Time to pray. pic.twitter.com\/hvaMWYkb2h<\/a><\/p>\n \u2014 cousin crypto (@cousincrypt0) September 9, 2024<\/a><\/p>\n\n Investor and analyst \u2018Kaleo\u2019 was also bullish, stating<\/a> that \u201cBitcoin is in a healthier place now than when it was at the same point post-halving last cycle.\u201d<\/p>\n He added that 141 days after the halving, BTC was down only 19% from the last cycle top, however in 2020, it dipped around 46% from the 2017 top 141 days after the halving.<\/p>\n \u201cWhen we rip out of the range into new ATHs this time around, institutional money can funnel in easier with spot ETFs, we have more regulatory clarity, and we might finally have a president that\u2019s pro-crypto as one of his key running points.\u201d<\/p>\n Analyst \u2018Rekt Capital\u2019 also looked at previous halving cycles, observing that, if history repeats, the next bull market peak will occur 518-546 days after the event:<\/p>\n \u201cThat would mean Bitcoin could peak in this cycle in mid-September or mid-October 2025.\u201d<\/p>\n #BTC<\/a><\/p>\n In the 2015-2017 cycle, Bitcoin peaked 518 days after the Halving<\/p>\n In the 2019-2021 cycle, Bitcoin peaked 546 days after the Halving<\/p>\n If history repeats and the next Bull Market peak occurs 518-546 days after the Halving\u2026<\/p>\n That would mean Bitcoin could peak in this cycle\u2026 pic.twitter.com\/HBF179wJXl<\/a><\/p>\n \u2014 Rekt Capital (@rektcapital) September 9, 2024<\/a><\/p>\n\n Meanwhile, full-time crypto trader \u2018Sykodelic\u2019 said, \u201cI am 95% confident we have bottomed here at $52.5k.\u201d<\/p>\n They added<\/a> that they were 95% confident that \u201cwe will not see anywhere near $44k whatsoever.\u201d This determination came from analyzing the USDT (Tether<\/a>) dominance chart, which is at bear market levels and moves in divergence from BTC prices.<\/p>\n \u201cInvesting is a game of probabilities, and based on the evidence of the entire market situation we are in, the probability is greatly weighted to the upside from where I look.\u201d<\/p>\n Analyst James Check said that sentiment was so bad because of weakened purchasing power. The past three years of high inflation have weakened the dollar and decreased the amount that can be purchased with it.<\/p>\n \u201cCould be due to the fact that in 2020 purchasing power, the price is -40% below the 2021 ATH\u2026rather than -25% from the spot ATH.\u201d<\/p>\n Why does #Bitcoin<\/a> sentiment feel so bad?<\/p>\n Could be due to the fact that in 2020 purchasing power, the price is -40% below the 2021 ATH\u2026rather than -25% from the spot ATH.<\/p>\n This assumes that the real inflation is ~2-3x more than CPI reported (at least).<\/p>\n Same as 2019 peak. pic.twitter.com\/L566NTvEuc<\/a><\/p>\n \u2014 _Checkmate (@_Checkmatey_) September 9, 2024<\/a><\/p>\n\n Actual inflation is usually a lot higher than what CPI reports<\/a> indicate and this appears to be being felt by investors during this cycle.<\/p>\n BTC was trading up<\/a> 3.3% on the day at $56,648 at the time of writing.<\/p>\n The post Bitcoin\u2019s Recent Higher Low Signals Possible Trend Shift, Analysts Cautiously Optimistic<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" A higher low happens in a down-trending market when the last dip is not as deep as the previous one. This could be a sign of trend reversal as selling pressure wanes. The last dip saw BTC prices plunge to a low of $53,300, which was not as deep as the Aug. 5 crash to […]<\/p>\n","protected":false},"author":0,"featured_media":5084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5083"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5083"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5083\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/5084"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Analysts Remain Bullish<\/h2>\n
Inflation Woes Linger<\/h2>\n