Bitcoin has shown remarkable resilience this September, a typically bearish month, surging 22% from its monthly low of about $52,500, challenging market expectations.
A 10% price increment analysis reveals bitcoin's potential for unexpected, significant moves, offering a clearer understanding of its trading behavior compared to fixed dollar amounts.
The analysis shows that bitcoin has spent 126 trading days in its current range of $59,700 to $65,670, suggesting a prolonged consolidation phase that could extend.
Historical patterns indicate that the longest trading ranges were often followed by significant movements, highlighting bitcoin's tendency to consolidate before major shifts in price.
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