Key factors:
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Bitcoin sees a repeat bull sign from its MACD indicator, which final got here in early April.
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Price then climbed 40% in a month, which this time would give BTC a $160,000 goal.
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US macro information is rapidly making merchants short-term bullish on Bitcoin.
Bitcoin (BTC) might attain $160,000 in September as a basic onchain indicator flips bullish.
New findings from well-liked dealer BitBull reveal a key “golden cross” on Bitcoin’s transferring common convergence/divergence (MACD) chart.
Bitcoin MACD repeats April golden cross
Bitcoin might carry out worse in September than some other month on common, however this yr might kind a significant exception.
MACD, which compares worth motion throughout shorter and longer timeframes utilizing two easy transferring averages (SMAs), has provided bulls a cause to rejoice.
On Sept. 5, the MACD line, a spinoff of the SMAs, crossed above the sign line, which is a 9-period exponential transferring common (EMA) of the MACD line used for purchase and promote indicators.
This has constructive implications for short-term worth energy, however this newest cross is much more attention-grabbing.
“Bitcoin simply had a MACD golden cross on the day by day timeframe. But this one is a bit totally different,” BitBull defined this week.
“For the primary time since April backside, BTC had a MACD bullish cross beneath 0 line.”
Negative MACD values mirror native downtrends, and the cross gives recent gasoline for a market rebound.
“Last time it occurred, BTC rallied 40% in a month and hit a brand new ATH,” BitBull notes.
If historical past repeats, BTC/USD would attain $160,000, already a well-liked worth goal for a 2025 excessive.
Inflation information boosts BTC worth sentiment
Bullish sentiment continues to circulate again into crypto because of macroeconomic shifts.
Related: Bitcoin worth cycles ’getting longer’ as new forecast says $124K not the highest
US inflation information has buoyed danger property and gold, with expectations favoring interest-rate cuts by the Federal Reserve to restart from subsequent week.
The August print of the Consumer Price Index (CPI) is due on Thursday, with merchants eager to see a constructive consequence construct on BTC worth upside.
“If we get an analogous print, that’ll affirm the speed reduce later this month, and markets will react positively,” well-liked dealer Jelle summarized in a part of pre-CPI market protection on X.
This article doesn’t include funding recommendation or suggestions. Every funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a call.
