Bitcoin Expectations for September
Hello dear TradingView family, it's been a while since last Bitcoin update!
A familiar price pattern has emerged on the BTCUSDT chart recently. This pattern is known as a Horizontal Channel, characterized by a consistent price range. Since August 18th, the price has been moving within the range of $26,800 to $25,400.
I anticipate that the price will eventually break out of this channel. However, before this breakout occurs, there might be a deceptive move down to around $24,800. This could be a tactic to trigger stop-loss orders and access a zone with significant liquidity. Following this, there's a potential for a rapid price increase towards the resistances at $26,800 to $28,800. This is motivated by a notable trend gap between this price range and the current trendline.
It's important to note that a brief period of price stability might be felt in the market before the possibility of more significant downward movements. This could drive the price down to the range of $20,000 to $18,800. However, this specific scenario warrants its own separate analysis.
A familiar price pattern has emerged on the BTCUSDT chart recently. This pattern is known as a Horizontal Channel, characterized by a consistent price range. Since August 18th, the price has been moving within the range of $26,800 to $25,400.
I anticipate that the price will eventually break out of this channel. However, before this breakout occurs, there might be a deceptive move down to around $24,800. This could be a tactic to trigger stop-loss orders and access a zone with significant liquidity. Following this, there's a potential for a rapid price increase towards the resistances at $26,800 to $28,800. This is motivated by a notable trend gap between this price range and the current trendline.
It's important to note that a brief period of price stability might be felt in the market before the possibility of more significant downward movements. This could drive the price down to the range of $20,000 to $18,800. However, this specific scenario warrants its own separate analysis.
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