Topic: September didn't follow its bear cycle - page 4. (Read 766 times)

Betting that any ETF will cause a change in price may not be wise. It is true that we do not have deadlines for this year, but there is no guarantee that it will be approved in January.
The price of $30,000 seems strong and the momentum is not enough to break through, but we still have 3 months and several times to meet the resistance level, one of which I think we will succeed in. Therefore, it is most likely that we will test 31,800 before the end of the year, and from there it will be determined whether we will see 40,000 or whether the price will continue its sideways movement.

But if we drop below 26,700, there will be a double bottom pattern, meaning we will touch $17,000 again, but I think the possibility is $40-$41k.

I agree that not reaching the cycle thingy, because it has been going up and that's the most important thing when you could do that. The end of September has been something that we could reach to a point.

I believe that we are going to be something that you could calculate and we need to be careful about it but that doesn't mean that we are going to end up some risks that we are going to take as well so we should be careful about that too. Take the risk as much as you want to take but also be careful about the drop and that is going to be something that prevents it for the drop so you should be helping each other out. So, always end up with getting that type of return one way or another which should be something that could profit you while also making sure that you are not going to hurt your finances.

I'm bit confused about the phrase "rise below". I assume this is a typo but you are right about the momentum. The month of October historically appears to be bulish and previously the bitcoin price managed to rally more than 50%. The $30k is crucial resistance level which needs to be broken, and as long as bear holds it the confidence level won't rise.

It appears to be a strong year for bitcoin. Despite some significant fud from Luna, FTX, Binance, and Mt. Gox, we are still close to the $30k level which is significant. I am not confident that bitcoin will be around $40k by the end of the year. I think the market will continue its movement sideways until the first ETF approval deadline in January 2024.

This thread is best fit into the speculation section and not bitcoin discussion as you think, you can move the thread to the appropriate section from the bottom of the page by your left bottom you get the option to move or lock thread from there.

 
Back to the topic of discussion, although Bitcoin hard a rough start for the month of September but towards the middle of that month, bitcoin began to build a momentum that brought us to the current position, although, many spectators thought Bitcoin was going to do a more downtrend movement, but the end justifies the means and Bitcoin was able to end the month of September in around 28k which is a highly remarkable point for Bitcoin.

There is something that has pushed the price to rise below $26,000. No one knows what it is and it may appear as purchases in the records of one of the companies when this quarter’s report is issued. But in any case, a 4% rise does not mean that we will witness an upward wave for this month, as we may remain below 30k most likely as there is not enough momentum for this historical resistance level, but before the end of the year we will be between 30k to 40k.

Going back a full month, in late August or early September, many people on several site and on the cryptocurrency Twitter were suddenly very vocal in saying that September was bound to be bearish for Bitcoin because the previous two had seen significant dips and because September is simply historically one of the worst performing months for cryptocurrency.

But this time was different:

Here, we can see that despite the lack of significant bullish news, with the possible exception of the release of the Ethereum ETFs, September did close a full +3.9% higher than August. Even so, with such low levels of liquidity as they are at the moment, we don't need much news to impact prices.
In any case, this is yet another example of how previous performance is not a guarantee of future performance. While I personally believe that the past will always and forever be a part of the future, many people simply have a tendency to anticipate the future and base their financial decisions on the past, which I believe to be reckless and nothing more than gambling.

While history can never be exactly the same, it does frequently rhyme, therefore this does not mean that we should dismiss it entirely. The past, present, and future must all be balanced, and we must pay attention to both the past and the present as well as the future.