Value

Bitcoin

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-loses-value-as-monthly-close-disappoints-bulls/" data-wpel-link="internal">Bitcoin Loses Value as Monthly Close Disappoints Bulls</a> 
<a href="https://en.coin-turk.com/bitcoin-enters-high-risk-zone-indicating-possible-bull-market-start/" data-wpel-link="internal">Bitcoin</a>, lost more than 2% on September 1 after a poor monthly close for bulls. Data from TradingView showed Bitcoin’s price weakness reaching a low of $57,230 on central crypto exchanges, a level last seen on August 16. By mid-weekend, less liquid conditions led to a gloomy monthly close as buyers failed to prevent further losses. 
<h2 class="p1" style="text-align: justify" id="what-to-expect-for-bitcoin-in-september">What to Expect for Bitcoin in September?</h2> 
Bitcoin ended August with an 8.6% drop, below its average gain of 1.75%, according to blockchain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data analysis</a> platform CoinGlass. The figures also reveal that September has historically been a bad month for the BTC/USD pair, with average losses of 4.5%. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384781 size-full" src="https://coin-turk.com/wp-content/uploads/2024/09/btc-yorum.webp" alt="" width="2246" height="1232"> 
Popular investor Crypto Chase, in a part of an X post about short-term market activity, stated that the local level took a hit and he wouldn’t be surprised if it eventually gave in: 
<blockquote> 
 “Bulls want to hold 55,500 – 56,500 or see definite PA above 61,000 dollars. Losing the 55,000-dollar level will likely lead to seeing the 51,000-dollar level.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384780 size-full" src="https://coin-turk.com/wp-content/uploads/2024/09/btc-liq.webp" alt="" width="1422" height="835"> 
Another investor, Exitpump, noted aggressive short selling at the local lows of the day just hours before the weekly close. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384779 size-full" src="https://coin-turk.com/wp-content/uploads/2024/09/btc-1w.jpg" alt="" width="1200" height="847"> 
As Bitcoin continues to retest the channel bottom, investor and analyst Rekt Capital continued analyzing the weekly chart: 
<blockquote> 
 “Bitcoin needs to close the week above $58,450 to confirm the channel bottom (black) as support. The retest is still ongoing.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="details-from-a-famous-name">Details from a Famous Name</h2> 
Meanwhile, CoinGlass liquidity data showed the downward trend advancing as the price moved layer by layer in the last week of August. Commenting <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">popular investor</a> CrypNuevo suggested that both upward and downward liquidity hunts could come this week: 
<blockquote> 
 “From a trade perspective, I prefer long positions, so I would prefer to see a downward move first to reach liquidations and fill the wick at $56,600 where I can open long positions. Therefore, if we see a false move at the beginning of the week, I am holding long positions at $56,600 on Sunday and Monday.” 
</blockquote> 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-384778 size-full" src="https://coin-turk.com/wp-content/uploads/2024/09/coinglass.png" alt="" width="1133" height="715"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-loses-value-as-monthly-close-disappoints-bulls/" data-wpel-link="internal">Bitcoin Loses Value as Monthly Close Disappoints Bulls</a></h5>
The post <a href="https://en.coin-turk.com/bitcoin-loses-value-as-monthly-close-disappoints-bulls/" data-wpel-link="internal">Bitcoin Loses Value as Monthly Close Disappoints Bulls</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Loses Value as Monthly Close Disappoints Bulls

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