BTC - the monthly close is near
Hello,
I think Bitcoin held up very well in September. In view of the fact that September is often one of the worst months on the stock market, the sales after the Covid rally were hardly noteworthy. We are still above 10.5k and if September closes above 10.5k this month, that would be the first time BTC has closed above 10.5k in 3 consecutive months. Even though the 10k range has been used by many large investors to accumulate more BTC, with the loss of 10.8k and resistance around 11.5K, a further uptrend is not clear. A bullish signal for me would be a monthly close above 11.8k and a first weekly close above 11.8k. Another bullish signal would be if we spend another month or two in the same range and the accumulation is further confirmed by higher lows in this channel. I am concerned about the whole middle and since Covid-19 untested Price Zone. For me, the signals are not yet clear enough to buy more BTC at these 10k prices even if a new test of the 12k zone is possible. Instead I hope for a fast shortterm wickplay in the 8.8-9.5 price range.
I think Bitcoin held up very well in September. In view of the fact that September is often one of the worst months on the stock market, the sales after the Covid rally were hardly noteworthy. We are still above 10.5k and if September closes above 10.5k this month, that would be the first time BTC has closed above 10.5k in 3 consecutive months. Even though the 10k range has been used by many large investors to accumulate more BTC, with the loss of 10.8k and resistance around 11.5K, a further uptrend is not clear. A bullish signal for me would be a monthly close above 11.8k and a first weekly close above 11.8k. Another bullish signal would be if we spend another month or two in the same range and the accumulation is further confirmed by higher lows in this channel. I am concerned about the whole middle and since Covid-19 untested Price Zone. For me, the signals are not yet clear enough to buy more BTC at these 10k prices even if a new test of the 12k zone is possible. Instead I hope for a fast shortterm wickplay in the 8.8-9.5 price range.
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