9/10 bitcoin (long)

10 wrz

Hello, this is full-time trader full_time_trader88.

Here’s the Bitcoin market analysis for September 10.

Let’s dive right in.




(Ascending Channel Perspective)

🔴 Ascending Channel 1

This is the first short-term ascending channel (pink).
Bitcoin has broken out to the upside and even completed a support retest.

The price was already trending upwards within the channel, but this breakout further solidifies the bullish outlook.

🔵 Ascending Channel 2

This is another smaller ascending channel, which has also broken to the upside—another positive indicator.

As long as these ascending channels hold, the overall trend remains bullish.





(Descending Channel Perspective)

🟠 Descending Channel

This descending channel had been in place for about a week. After breaking down through the lower boundary, Bitcoin has rebounded and is now testing the upper resistance.

Currently, it’s facing resistance for the third time.
A breakout from this channel would be a significant move.




(Both Channels Together)

Here’s what the combined view of both the ascending and descending channels looks like.





(Bollinger Bands Perspective)

🔴 Lower Bollinger Band Break

Recently, the candles broke below the lower Bollinger Band.

Historically, when this occurs, the price tends to rebound towards the middle band, and it has done so recently.

Given this pattern, we can expect a potential rise to the middle Bollinger Band,
currently sitting at 58.9K.





(Angle Perspective)

🔵 Gradual Decline Followed by a Steep Drop

If you observe recent downtrends, they tend to begin with a gradual decline before accelerating sharply, which often marks the bottom.

The early September drop follows a similar pattern, suggesting we may be in a potential bottoming area.

In such cases, Bitcoin has historically rebounded beyond the 0.618 Fibonacci retracement level. For the recent drop, this would take us above 60K, indicating a possible short-term rally to that level—an encouraging signal.

(Of course, no chart pattern guarantees certainty.)





(Symmetrical Triangle Perspective)

🟣 Mid-sized Symmetrical Triangle

This is a mid-sized symmetrical triangle spanning 43 days.

As it hasn’t broken out yet, it could potentially extend to a 50–60 day consolidation period.

This is one of the largest symmetrical triangles we’ve seen this year.

⚫️ Volume

The volume within the triangle is inconsistent, making the pattern less reliable.
However, due to its size, I’m watching it closely.





(Large Descending Channel Perspective)

🟢 Large Descending Channel

This large descending channel has been in place for about six months, dating back to March 2024.

Bitcoin has stayed within this channel throughout, with every candle contained inside. It’s quite a persistent structure.

The recent bottom coincided with a bounce off the lower boundary of this channel, making it a key support level.

(Previous attempts to break below were unsuccessful, as the daily close remained inside the channel. The daily close is, therefore, an important indicator.)






(Major Support Zone Perspective)

🟣 Consolidation Before a Major Rally

Historically, Bitcoin consolidated for around 10 days before a 50% rally.

⚫️ Major Support Zone (50.5–53.0K)

I’ve highlighted a rectangular box at this consolidation area, which now serves as a major support zone.

This area has provided key support during Bitcoin’s lows in July, August, and September.

I view the 50.5K–53.0K range as a critical support zone.





(Combined View of Symmetrical Triangle + Large Descending Channel + Major Support Zone)

Here’s what the chart looks like when we combine these elements.






(CPI Schedule)

⚪️ CPI (Consumer Price Index)

The CPI data will be released on September 11 at 8:30 AM.

It’s essential to observe whether this data impacts the crypto market.

Historically, CPI releases have had a significant influence on crypto prices, so be cautious as we may see increased volatility during this period.

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[Conclusion - 3 Point Summary]

1. The uptrend is still intact.

2. The outcome of the mid-sized symmetrical triangle and large descending channel will be pivotal.

3. Be prepared for potential volatility during tomorrow’s CPI release.


This is a simple summary of my thoughts.

Please use it as a reference, and I’d greatly appreciate your follow and like.

Thank you!



- This analysis is not a recommendation to buy or sell.
- It reflects personal views for informational purposes only.
- All investment decisions are at your discretion, and you are fully responsible for any actions you take.