Amid its price recovery over the past week, Bitcoin (BTC) could trigger a future rally soon as per recent signals from technical analysis (TA) indicators.
In an analysis shared on September 18, pseudonymous crypto expert Mustache highlighted that Bitcoin recently managed to cross its first bullish line within more than a year.
“Bitcoin (W) -Bullish Cross (Weekly Stoch RSI). The last time this happened at this low was over a year ago (July 2022)”, wrote the analyst sharing a chart about the cryptocurrency.
-Bullish Cross (weekly Stoch RSI)🎯
The last time this happened this low was over a year ago (July 2022). pic.twitter.com/qn8dbEKk9Z
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) September 18, 2023
At the time of publication, the price of Bitcoin was quoted at US$27,393.30, up 3.0% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$10,944,443,210.
In a significant price recovery, the market’s largest asset has seen an increase of 7.0% in the last seven days, breaking the stagnant and downward sequence of recent days.
Crypto analytics platform IntoTheBlock shared on September 18 that Bitcoin recently reached a new milestone. The cryptocurrency processed a record 703,000 transactions on September 15.
Historic Milestone: Bitcoin processed a record-breaking 703K transactions on Friday.
— IntoTheBlock (@intotheblock) September 18, 2023
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