'Overbought' Bitcoin Drops Below $64K as ISM Manufacturing Data Looms: 10x Research
Briefly

from Coindesk5 months ago
Bitcoin experienced a significant drop of nearly 3%, breaking through a bullish trendline that had supported its recent price rally.
Coindeskhttps://www.coindesk.com/markets/2024/09/30/overbought-bitcoin-drops-below-64k-as-ism-manufacturing-data-looms-10x-research/
Markus Thielen indicated that since June, the first week of the month always brings a 10% sell-off in BTC following the ISM Manufacturing data release.
Coindeskhttps://www.coindesk.com/markets/2024/09/30/overbought-bitcoin-drops-below-64k-as-ism-manufacturing-data-looms-10x-research/
The upcoming ISM Manufacturing data release is particularly critical; if the reading drops below 48.0, it may spark further Bitcoin declines.
Coindeskhttps://www.coindesk.com/markets/2024/09/30/overbought-bitcoin-drops-below-64k-as-ism-manufacturing-data-looms-10x-research/
Current market conditions signal a typical bull-market pullback, with overbought indicators suggesting a potential drop in Bitcoin prices in the short term.
Coindeskhttps://www.coindesk.com/markets/2024/09/30/overbought-bitcoin-drops-below-64k-as-ism-manufacturing-data-looms-10x-research/
Read at Coindesk
#bitcoin #ism-manufacturing #market-analysis #price-trends
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