{"id":639291,"date":"2024-09-03T06:30:15","date_gmt":"2024-09-03T06:30:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=639291"},"modified":"2024-09-02T16:16:22","modified_gmt":"2024-09-02T16:16:22","slug":"bitcoin-eyes-68000-in-september-could-this-be-the-turning-point","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-eyes-68000-in-september-could-this-be-the-turning-point\/","title":{"rendered":"Bitcoin Eyes $68,000 In September: Could This Be The Turning Point?"},"content":{"rendered":"<p>Bitcoin, after experiencing a blood bath last Month, several analysts have re-analyzed its price action to see what this new month of September might hold for the Bitcoin Market.<\/p>\n<p>Amongst them, a renowned crypto analyst known as Mags on X has recently <a href=\"https:\/\/x.com\/thescalpingpro\/status\/37960931\" target=\"_blank\" rel=\"noopener nofollow\">shared<\/a> an insightful perspective on Bitcoin\u2019s current market behavior in one of his latest posts.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoins-momentum-at-risk-nvt-golden-cross-signals\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s Momentum at Risk? NVT Golden Cross Sends Warning Signals<\/a><\/div>\n<h2>Is Bitcoin Primed For A September Rally?<\/h2>\n<p>Mags pointed out that Bitcoin has been in a long consolidation phase since March and is now entering its seventh month.<\/p>\n<p>He drew a parallel to a similar pattern observed last year, where Bitcoin also began its consolidation in March, only to start <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoins-momentum-at-risk-nvt-golden-cross-signals\/\" target=\"_blank\" rel=\"noopener \">recovering by September.<\/a><\/p>\n<p>According to Mags, over the following seven months, Bitcoin experienced a 195% increase in price. So far, this historical pattern has raised whether September will again serve as a <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-price-potential-analyst-maps-path-to-700000-and-beyond\/\" target=\"_blank\" rel=\"noopener \">pivotal month<\/a> for Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> &#8211; september is a bearish month ?<\/p>\n<p>We all know Bitcoin has been stuck in a long consolidation phase for the past few months.<\/p>\n<p>This sideways PA began in March and is still ongoing. But what if I told you we saw a similar pattern last year?<\/p>\n<p>Back then, the consolidation\u2026 <a href=\"https:\/\/t.co\/8PJ8MMNEUR\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/8PJ8MMNEUR<\/a><\/p>\n<p>\u2014 Mags (@thescalpingpro) <a href=\"https:\/\/twitter.com\/thescalpingpro\/status\/37960931?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">September 2, 2024<\/a><\/p><\/blockquote>\n<p>Bitcoin is showing signs of a bearish trend, having fallen below the psychological $60,000 level. Over the past week, the <a href=\"https:\/\/ktsl888.com\/news\/legendary-trader-predicts-bitcoin-bull-run-end\/\" target=\"_blank\" rel=\"noopener \">cryptocurrency<\/a> has seen a 9.9% decline.<\/p>\n<p>However, there seems to be a slight recovery in progress, with BTC currently trading at $58,411, up 0.3% in the past 24 hours.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/ln4OtglS\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2>Next Moves Expected From BTC<\/h2>\n<p>In response to Bitcoin&#8217;s recent price action, prominent crypto analyst Captain Faibik offered his <a href=\"https:\/\/x.com\/CryptoFaibik\/status\/22532891\" target=\"_blank\" rel=\"noopener nofollow\">outlook<\/a>, suggesting that BTC is still moving within a bullish flag pattern. According to Faibik, there is a possibility that Bitcoin may test the $54,000<a href=\"https:\/\/ktsl888.com\/news\/bitcoins-upside-fading-70k\/\" target=\"_blank\" rel=\"noopener \"> support area<\/a> once again.<\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GWcoDsKX0AEDyxE?format=jpg&amp;name=medium\" alt=\"Bitcoin chart. \" width=\"1200\" height=\"573\"><figcaption class=\"wp-caption-text\">Bitcoin chart. | Source: Captain Faibik on X<\/figcaption><\/figure>\n<p>He emphasized the importance of bulls defending this level, as a bounce back from $54,000 could potentially lead to a rally up to $68,000 in September.<\/p>\n<p>This scenario aligns with Mags\u2019 theory that September could be a <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-breakout-blueprint-analyst-reveals-roadmap-for-imminent-surge\/\" target=\"_blank\" rel=\"noopener \">turning point<\/a> for Bitcoin, mirroring last year\u2019s price recovery.<\/p>\n<p>Adding to the discussion, another well-known analyst, Willy Woo, provided <a href=\"https:\/\/x.com\/woonomic\/status\/78539195\" target=\"_blank\" rel=\"noopener nofollow\">insights<\/a> on the supply dynamics affecting Bitcoin\u2019s price. Woo noted that the influx of BTC from sources such as Germany\u2019s Mt. Gox and the US Department of Justice is gradually being &#8220;absorbed&#8221; by the market.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-breakout-blueprint-analyst-reveals-roadmap-for-imminent-surge\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s Breakout Blueprint: Analyst Reveals Roadmap For Imminent Surge<\/a><\/div>\n<p>He also observed that paper BTC bets are declining, which he interprets as a positive sign. Overall, Woo suggested that the market sentiment has shifted from bearish towards neutral, indicating that the worst sell-off may be over.<\/p>\n<p>Featured image created with DALL-E, Chart<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin, after experiencing a blood bath last Month, several analysts have re-analyzed its price action to see what this new month of September might hold for the Bitcoin Market. Amongst them, a renowned crypto analyst known as Mags on X has recently shared an insightful perspective on Bitcoin\u2019s current market behavior in one of his latest posts. Related Reading: Bitcoin\u2019s Momentum at Risk? NVT Golden Cross Sends Warning Signals Is Bitcoin Primed For A September Rally? Mags pointed out that Bitcoin has been in a long consolidation phase since March and is now entering its seventh month. He drew a parallel to a similar pattern observed last year, where Bitcoin also began its consolidation in March, only to start recovering by September. According to Mags, over the following seven months, Bitcoin experienced a 195% increase in price. So far, this historical pattern has raised whether September will again serve as a pivotal month for Bitcoin. #Bitcoin &#8211; september is a bearish month ? We all know Bitcoin has been stuck in a long consolidation phase for the past few months. This sideways PA began in March and is still ongoing. But what if I told you we saw a similar pattern last year? Back then, the consolidation\u2026 pic.twitter.com\/8PJ8MMNEUR \u2014 Mags (@thescalpingpro) September 2, 2024 Bitcoin is showing signs of a bearish trend, having fallen below the psychological $60,000 level. Over the past week, the cryptocurrency has seen a 9.9% decline. However, there seems to be a slight recovery in progress, with BTC currently trading at $58,411, up 0.3% in the past 24 hours. Next Moves Expected From BTC In response to Bitcoin&#8217;s recent price action, prominent crypto analyst Captain Faibik offered his outlook, suggesting that BTC is still moving within a bullish flag pattern. According to Faibik, there is a possibility that Bitcoin may test the $54,000 support area once again. He emphasized the importance of bulls defending this level, as a bounce back from $54,000 could potentially lead to a rally up to $68,000 in September. This scenario aligns with Mags\u2019 theory that September could be a turning point for Bitcoin, mirroring last year\u2019s price recovery. Adding to the discussion, another well-known analyst, Willy Woo, provided insights on the supply dynamics affecting Bitcoin\u2019s price. Woo noted that the influx of BTC from sources such as Germany\u2019s Mt. Gox and the US Department of Justice is gradually being &#8220;absorbed&#8221; by the market. Related Reading: Bitcoin\u2019s Breakout Blueprint: Analyst Reveals Roadmap For Imminent Surge He also observed that paper BTC bets are declining, which he interprets as a positive sign. Overall, Woo suggested that the market sentiment has shifted from bearish towards neutral, indicating that the worst sell-off may be over. Featured image created with DALL-E, Chart<\/p>\n","protected":false},"author":580,"featured_media":639300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,6848,1119,6664,10923],"class_list":["post-639291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-price-prediction","tag-btc","tag-crypto","tag-crypto-market"],"acf":[],"yoast_head":"\n<title>Bitcoin Eyes $68,000 In September: Could This Be The Turning Point?<\/title>\n<meta name=\"description\" content=\"Bitcoin after experiencing a blood bath last Month, several analysts has re-analyzed its price action to see what this new month of...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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