Bitcoin price is at a crucial level and is about to make it clear that the downtrend has ended and a new uptrend has started.
Coincidentally, the top cryptocurrency is on the verge of a new bull market just as the first of four super moons in 2023 is coming. Read on to learn more about the meaning of the “buck moon” in July.
Is Bitcoin Ready for a Supermoon Surge?
As BTCUSD makes new daily, weekly and 2023 highs, it is becoming increasingly clear that the bears are no longer in control. However, the crypto winter has been so painful that bystanders are still waiting for a more meaningful move — a return to the “moon days.”
This could be imminent, beginning with the current full moon. Just as the moon can control the ebb and flow of the tide, in astrology the moon is responsible for mood swings. A simultaneous recovery in cryptocurrencies with a major astrological sentiment shift could result in a major trend shift from bearish to bullish.
Also, this month’s full moon, which begins today, is not just any moon. It is a supermoon known as the “Buck Moon”. But does that mean BTC will finally buck the downtrend, or is it all just superstition?
Moon phases in crypto | BTCUSD on TradingView.com
The “buck” begins now, which means the full moon
The chart above actually appears to show reciprocating price fluctuations related to the phases of the moon. Financial astrology, including the use of the moon in technical analysis, is not as uncommon as you might think.
A supermoon simply means that the moon is closer to Earth than usual. But the Buck moon comes specifically in July and is aptly named because that’s when the antlers of male deer – called bucks – are in peak growth mode. As far as crypto symbolism goes, bitcoin bulls could also be on the verge of getting their horns and pushing BTCUSD into full growth mode.
The term “Bock” is also inextricably linked to the origin of the money. You may have heard the dollar referred to as a “buck.” This is because deerskins were traded as early currency. So will buying bitcoin on this particular supermoon make you money? Trading based on a moon phase is never a wise decision. But if bulls get their horns like deer get their antlers, this phase of the moon could be just the beginning.
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Tonight is the supermoon Buck Moon. Will it turn the tide in the crypto market? pic.twitter.com/Fb05fkE7FH
— CoinChartist (@coinchartist_io) July 3, 2023
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