Analysis: BTC retesting the 50-week MA, or on the edge of three months of continuous pump

BlockBeats news, on September 15th, the famous Crypto analyst Titan mentioned that “BTC recently retested a key support level on the weekly chart, which may rebound to above $90,000. In previous cycles, when the price retested the 50-week simple moving average, it rebounded by at least 40%. The average rebound rate is 71%. If BTC pumps 71% from here, it may reach $92,000.” Historical charts indicate that BTC will experience a three-month rebound. According to CoinGlass data, September has historically been a poor month for BTC price performance, with an average return rate of -4.69%, the most pessimistic average return rate. Historically, the average return rate for BTC in October is 22.9%, in November is 46.8%, and in December is 5.4%. In the last BTCHalving year, i.e., 2020, the price pumped over 27% in October, over 42% in November, and continued to pump for six months, until March 2021. Cryptocurrency trader Mags stated on September 15th, “The current correction may be the last potential buying opportunity before the next pump. BTC provided three buying opportunities before its parabolic trend, with the last one after the Halving. This may be your last chance to buy BTC at a low price before it enters a parabolic trend.” Anonymous on-chain analyst Checkmate also pointed out, “BTC’s positioning is exactly the same as the previous two Bull Market cycles, and BTC is in the same position as the last two cycles since the low point. I like the comparison to the cycle’s low point the most, as it describes the psychological time needed for investors to recover from the Bear Market.”