A hopeful scenario for BTC is to approach 365d SMA line again.
The current BTC(Bitcoin) price is $63.3k. It's still around this cycle's ATL(All Time Low).
I think the preconditions for Altseason 3 are..
- A continuous rally of recording ATH(All Time High)s of BTC
- ETH(Ethereum) as well
To do so, BTC should break $90k which is a 365d SMA(Simple Moving Average) line, first.
However, we're facing the interest rate hike this October. Traditionally, BTC prices have recorded ATL 12 months after ATH. Will history repeat itself?