Bitcoin

Strong

Rekt

Higher

<p>Bitcoin took a <a href="https://coinpedia.org/news/crypto-daily-news-oct-3-2024-crypto-market-dips-bitcoin-drops-to-60k-aptos-pumps-11-33/" target="_blank" rel="noopener noreferrer nofollow">sharp hit</a> this week, dropping over 8% from $65,790 to $60,092, partly due to increasing tensions in the Middle East. However, according to crypto analyst Rekt Capital, September's performance reveals significant trends that may indicate what's next for the leading cryptocurrency.</p>  
<h2 class="wp-block-heading" id="h-bitcoin-s-strong-start-in-september">Bitcoin’s Strong Start in September</h2>  
<p>Throughout September, Bitcoin showed promising signs, beginning with a bounce off a key support level in a bargain-buying zone just below the Channel Bottom. From this position, Bitcoin successfully reclaimed the black Downtrending Channel support.</p>  
<p>After securing this crucial level, Bitcoin took on the July Downtrend and managed to break through it last week. The next major target was the Channel Top, near $67,000. However, Bitcoin faced rejection at this point, which led to its recent price dip.</p>  
<p>Despite the rejection and subsequent 5% price drop, Bitcoin recorded its best-ever September with a monthly return of 7%. According to Rekt Capital, this performance should not be overlooked, as it signifies a major milestone for the cryptocurrency.</p>  
<h2 class="wp-block-heading" id="h-key-levels-to-watch">Key Levels to Watch</h2>  
<p>Rekt Capital emphasized that <a href="https://coinpedia.org/crypto-live-news/raoul-pal-predicts-bitcoin-to-skyrocket-to-73777-by-november-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin's recent movement</a> established a Higher High for the first time since late July, a promising sign of a potential upward trend. Additionally, Bitcoin closed the week above the late August resistance level of $64,300, which, if turned into support, could pave the way for further gains.</p>  
<p>Should Bitcoin hold above this critical level during the current retrace, it may retest the top of the Downtrending Channel in early October.</p>   [post_titles_links postid="359247"]  
<p>However, if Bitcoin fails to maintain this level during its retest, traders should be cautious. A failure could introduce downside volatility, and key support areas reclaimed during the recent upward move will become critical levels to monitor in the event of further declines.</p>  
<p><strong>Are you a Bitcoin bull or a bear?</strong></p>

Bitcoin’s Best September Ever Despite 8% Price Drop – What’s Next?

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