{"id":23472,"date":"2023-09-15T11:27:59","date_gmt":"2023-09-15T11:27:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-bounce-sees-profit-taking-hit-2-month-high\/"},"modified":"2023-09-15T11:27:59","modified_gmt":"2023-09-15T11:27:59","slug":"bitcoin-price-bounce-sees-profit-taking-hit-2-month-high","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-bounce-sees-profit-taking-hit-2-month-high\/","title":{"rendered":"Bitcoin price bounce sees profit taking hit 2-month high"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694776662412-286b33a1-c2dd-4ee6-be5c-432e71d9c38e-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694776662412-286b33a1-c2dd-4ee6-be5c-432e71d9c38e-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694776662412-286b33a1-c2dd-4ee6-be5c-432e71d9c38e-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1694776662412-286b33a1-c2dd-4ee6-be5c-432e71d9c38e-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin rose to highs above $26,800 on Thursday, before profit taking pushed kicked in to see it trade lower.<\/li>\n<li dir=\"ltr\">An analyst says price below the 200-week MA represents buying opportunity.<\/li>\n<li dir=\"ltr\">Meanwhile, address activity remains high, with 1.1 million BTC send or received daily.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> spiked above$26,800 overnight Thursday as bulls bounced to hit its highest level since the decline to below $25k on Monday.\u00a0<\/p>\n<h2 dir=\"ltr\">Traders eye profits after BTC bounce\u00a0<\/h2>\n<p dir=\"ltr\">With Friday looking likely to see a fourth consecutive green candle, the push to above $26,849 illustrated bulls\u2019 resilience in a historically tough September.<\/p>\n<p dir=\"ltr\">However, the rise in profit ratio over the past three days has also seen <a href=\"https:\/\/coinjournal.net\/news\/tag\/btc\/\">BTC<\/a> face a spike in profit taking deals. On-chain data shared via a chart by market intelligence platform Santiment shows that traders took advantage of the upside bounce to pinch small profits.<\/p>\n<p dir=\"ltr\">Per the data, Thursday saw the highest ratio of profit vs. loss taking in two months. Even then, address activity remained elevated to sit at 5-month highs, with an average of 1.1 million Bitcoin addresses either sending or receiving BTC daily. According to Santiment, Bitcoin\u2019s address activity hovered at its highest level since April.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcc8 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> has continued to see 5-month high levels of unique address activity, with an average of 1.1M <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> addresses sending and receiving coins per day. The +5% price rise over the past 3 days has also caused profit taking to hit a 2-month high today. <a href=\"https:\/\/t.co\/GiGGABXv0s\">https:\/\/t.co\/GiGGABXv0s<\/a> <a href=\"https:\/\/t.co\/f9PaTXjaut\">pic.twitter.com\/f9PaTXjaut<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1702490137501032916?ref_src=twsrc%5Etfw\">September 15, 2023<\/a><\/p>\n<\/blockquote>\n<h2 dir=\"ltr\">What next for BTC?<\/h2>\n<p dir=\"ltr\">Bitcoin\u2019s +5% rebound over the past three days represents the first streak of gains since the sharp spike on 29 August. Bullish flip above $26k could be a great signal for bulls. However, the market remains largely constrained and volatility is likely to be on the downside as traders hunt for profit taking moves.<\/p>\n<p dir=\"ltr\">BTC is also below its 200-week moving average, the same region that constrained prices for months but as crypto analyst Rekt Capital says, the region has previously \u201crepresented a bargain-buying territory.\u201d Bitcoin is once again in this region.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <\/p>\n<p>Even if there&#8217;s a Bearish Bitcoin Fractal forming\u2026<\/p>\n<p>It may enable one of the last Pre-Halving bargain-buying opportunities in preparation for the Post-Halving parabola<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/Ldpb4B0izQ\">pic.twitter.com\/Ldpb4B0izQ<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1702638146641399928?ref_src=twsrc%5Etfw\">September 15, 2023<\/a><\/p>\n<\/blockquote>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-rebound-sends-profit-taking-deals-to-2-month-high\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin rose to highs above $26,800 on Thursday, before profit taking pushed kicked in to see it trade lower. An analyst says price below the 200-week MA represents buying opportunity. Meanwhile, address activity remains high, with 1.1 million BTC send or received daily. [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23472"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23472"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23473"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}