Key points:
Bitcoin moves in step with gold, increasing around $ 112,000 as gold reaches the new maximums of all time.
BTC Price Action has not yet confirmed an investment, commentators say, with the risk of a drop of $ 100,000 still real.
September seasonality means that the third week of the month is guaranteed to see losses.
Bitcoin (BTC) emerged with gold in the Wall Street Open on Tuesday when the bulls creak through a brief liquidity.
Trader: The price of BTC is still due to a drop of $ 100,000
Co -Intelegraph Markets Pro and TradingView data showed that BTC/USD reached new September maximums of $ 111,775 in Bitstamp.
Almost 2% in the day, the couple joined the gold since the latter reached the new maximums of all time above $ 3,500 per ounce. This was based on a rupture that began to follow the macroeconomic data of the United States on Friday.
Bitcoin punished the bearish bets, with caramel data that shows about $ 60 million of short four -hour crypto liquidations at the time of writing.
Reacting, the commentators of the cryptographic market were in “wait and see” mode.
Loading a table of one of its commercial tools patented to X, the co -founder of material indicators, Keith Alan, emphasized the importance of the simple mobile average (SMA) of 21 days.
“The strong technical resistance lives where the 100 -day SMA has confluence in the line of trends,” he wrote in part of the attached comments.
“BTC bulls need to turn that too to avoid a death cross between the more than 21 days/100 days.”
Cryptographic expert Marcus Corvinus described a “critical moment” for the BTC price force.
“Price has been riding a bullish trend but now sitting at the bottom of the channel,” followers in part of a publication.
“The heavy sails closed, noting that buyers are losing grip. A breakdown here could confirm the end of the upward trend → beginning of a new bearish trend.”
While Corvinus said that the next daily candles would decide the fate of a possible reversal, the popular merchant Roman ruled out the idea that one was already developing.
“There are no immediate reversal signs here, since we have lost the 112K support and we are looking to turn it into a new resistance,” he summarized, adding that he did not “see any reason why we do not see the 100K support touch in the next few days.”
As Cointegraph reported, Roman argued the weekend that the loss of $ 100,000 would end the current upward market.
Bitcoin immerses “100% of the time” in September of week three
Upon returning to the historical performance of September, the economist of the Red Timothy Peterson had no good news for the defenders of Bitcoin.
Related: Bitcoin’s short -term holders are detached from the lower signal of the rare BTC price at $ 107K
September, he emphasized, is synonymous with low performance in BTC/USD, which has delivered average losses of 3.5% since 2013.
“The monthly average is misleading. Volatility is very high,” Peterson said.
“Between 16 and 23, Bitcoin yields 100% of the time, with a typical decrease of -5%.”
This article does not contain advice or investment recommendations. Each investment and negotiation movement implies risk, and readers must carry out their own research by making a decision.
