Key takeaways:
Bitcoin (Btc) is set to close August in Red, the first down-month since April, afraid to be afraid that the fall may deepen as September begins.
September is usually a bad month for bitcoin
Bitcoin is well established Slide request in September.
Since 2013, Bitcoin has closed the red in eight of the past twelve months, with an average return that slipped about –3.80%.
Veterans call it in the market that “September impact“
Often trading in the dangers with greater risk ownership, Bitcoin can be the victim of this time -drag.
However, since 2013, every green September for Bitcoin has just arrived after a bruising August, a pattern indicating sellers running.
Related: The price of bitcoin has lost the key multiyear support trendline: a classic BTC fakeout?
Analyst Rect Fencer Says That a “September dump will not come” this year, citing Bitcoin performance in 2017.
The 2017 and 2025 chart overlay announces a close image in the mirror. In both cycles, Bitcoin slipped strongly in late August, finding walking in a major zone support, and then upside down.
Back in 2017, that retest marked the final greek before the BTC price dropped to $ 20,000.
Fast forward to this day, and Bitcoin has hosted near a multimonth base between $ 105,000 and $ 110,000, a level that can be launchpad for another parabolic leg upwards.
Bitcoin can retest its record high in 4-6 weeks
The $ 105,000- $ 110,000 zone acted as a resistance earlier in the year, but now it has supported support, a classic bullish structure in technical analysis.
An important reversal signal is derived from the so -called “hidden bullish divergence.” Although the price of bitcoin has dropped, it Relative Strength Index (RSI)A popular momentum indicator, does not fall down a lot.
That usually means the market is not as weak as the price chart suggests, indicating that consumers will quietly step back.
Analyst Hey It suggests that Bitcoin can monitor for a fresh full time high at $ 124,500 within the next 4-6 weeks, due to technical patterns that justify a potential rally in September.
A weaker dollar will help Bitcoin bulls in September
Money entrepreneurs are The dollar -consonant As a slow US economy and Expected reduction in Fed rate Weight of emotion. They see the greenback sliding of another 8% this year, a refusal combined with Donald Trump’s criticism of the Fed.
Like Sunday, the 52-week relationship between Bitcoin and the US Dollar Index (DXY) has slipped to –0.25, its weakest level over two years.
That shift improves Bitcoin’s, as well as the broader crypto market, the odds of climbing in September if the dollar continues.
“The Fed will start money printers in this year’s Q4,” Ash Crypto analyst Says Last week, adding:
“Two reduction rates mean trillion flows into the crypto market. We are about to enter a parabolic phase in which altcoins will explode 10x -50x.”
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
