Bear trap or bears taking a break?
) recovered above the $19,000 mark on Sept. 20, a day after falling to its lowest level in three months.On the daily chart, the BTC price rose from $18,255 to $19,650. This 7.5% price rebound mirrored similar rebound moves witnessed in the stock market, suggesting that investors have been coming to terms withBTC/USD daily price chart versus ACWI and Nasdaq. Source: TradingView
However, opinions differ on the longevity of Bitcoin's rebound. Independent market analyst Jonny Moe stressed that BTC's ongoing price action is similar to its sideways consolidation moves at the beginning of this year. In other words, Bitcoin's current price rebounds around the $20,000 mark do not make a long-term bull case.
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