Macro headwinds push Bitcoin to $82.9K despite historical 365-day breakout pattern
Summary
Bitcoin’s rise above its 365-day moving average near $80,900 on Sept. 22 marked its first move above the level in 310 days. Altcoin Pro found that Bitcoin gained over the following year in all five previous cases after spending at least 90 days below the average, but past breakouts have also failed. The firm calls the signal encouraging, not a guarantee, and gives greater weight to the 200-day average, which Bitcoin had reclaimed in mid-August. A 50-day/200-day golden cross followed on Sept. 8; Altcoin Pro views it as more constructive because it came after a prolonged period below the 200-day average. The near-term test is whether a recent pullback brings Bitcoin back toward that level.
