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⚡️Bitcoin surges sharply; latest views from traders and analysts: “The bear market is over” is becoming a consensus
BlockBeats news,September 21, this afternoon, after the U.S. pre-market opened, Bitcoin surged rapidly, rising by approximately 2 hours 5%, from 81000 USD rapidly surging above 85000 USD. Before this main upward move, several traders and analysts had already reached a consensus that “the crypto bear market is over.” BlockBeats’ summary is as follows:August At the bottom of September At the beginning of, trading whale “First Set 10 Major Goals” predicted that “if Bitcoin stabilizes above 80000 USD, it will then target 100000 USD, the last opportunity to get onboard.” It also confirmed that “80000 USD even 80000 or above, I do not think it is too late to enter; there is still room. It will likely be reached earlier than I originally expected.”
Well-known trader Doctor Profit stated yesterday that Bitcoin has broken above the 100000 USD currently at approximately 78,700 USD 50-week moving average (MA50). If this week’s close remains above this moving average, he will regard it as a confirmation signal for the start of a new bull market, targeting 88,000 USD after the remaining resistance is broken. Alex Thorn, Head of Research at Galaxy, has recently expressed a similar view based on technical-pattern analysis.
In addition, PlanB, a well-known analyst previously criticized as a “perpetual bull,” posted last week that Bitcoin has risen above the 50-week moving average (approximately 79,000 USD), with the next target being the 100-week moving average (approximately 89,000 USD), while also confirming that the bear market is over.
Jiang Zhuoer, founder of Lebit Mining Pool, expressed a relatively cautious bullish view. He expects Bitcoin to “reach up toward 83~, a high-resistance zone, before beginning a major pullback. However, with this pattern, this is not the highest point. Wait and see; do not short. Hold a full-position ETH spot position and await further gains.”
Well-known trader Killa has consistently maintained that data from several Bitcoin bull-bear cycles show that bear-market declines are gradually becoming shallower, and that the bottom of this cycle may already have formed. He believes that the “October decline to 50000 USD expected by some investors who missed the move is virtually impossible.” His latest view is that Bitcoin’s next target could be as high as the 88000 USD range; if it rapidly falls back below 80000, it may test the low of 70000 USD, though based on volume analysis, this scenario is currently unlikely.
Original link https://m.theblockbeats.info/flash/368237