Long

bullish

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when

<ul class="wp-block-list cnl-post-highlights-list"><li>Over $126 million liquidated in just an hour.</li><li>$125.18 million was liquidated from long positions alone.</li><li>Reputed silver-tongued analyst believes September will be a red month.</li></ul><p>The crypto market experiences another heavy market liquidation today as the <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">price of BTC</a> and ETH continue trading at relatively lower prices. In detail, the crypto community saw over $126 million liquidated in just an hour, of which $125.18 million of the liquidations were all from long positions. This shows that the crypto market was expecting much higher prices to arrive for both BTC and ETH, and the pioneer assets are still in recovery.&nbsp;</p><h2 class="wp-block-heading" id="over-126-million-liquidated-in-just-an-hour">Over $126 Million Liquidated in Just an Hour</h2><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"> https://twitter.com/Cointelegraph/status/1957266403074990374 </div></figure><p>With the prices of both BTC and ETH still in recovery, the crypto market saw a brutal liquidation of over $126 million in under an hour, of which $125.18 million was lost from long positions. This indicated that traders were expecting BTC and ETH to have recovered higher prices so far, but they have yet to recover. Presently, BTC is trading at $115,000, the lowest it's been all week, while ETH is down back to the $4,300 price level.&nbsp;</p><p>Despite the dip, analysts remain bullish on crypto prices and expect a <a href="https://cryptonewsland.com/ethereum-breakout-on-the-eth-monthly/" rel="noopener noreferrer nofollow">new ATH for ETH</a> and BTC in the coming days or weeks ahead. Additionally, ETH continues to outperform BTC, further improving expectations for altseason, when all altcoins could go on to hit much higher prices and claim to ATH records. Price discovery awaits the majority of the crypto bull cycle. Despite high expectations, one analyst makes a bearish prediction for the month of September.&nbsp;</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"> https://twitter.com/DrProfitCrypto/status/1957164893544591590 </div></figure><p>A we can see from the post above, <a href="https://x.com/DrProfitCrypto" rel="noopener noreferrer nofollow">Doctor Profit</a>, an analyst known for mankind several accurate predictions so far in this bull cycle, shares his latest weekly report. He begins by talking about how he predicted a pump from the $117,000 area towards the $123,000 area in his last report. Now, with BTC trading at a lower target again, he concludes that for the coming two weeks until September, he expects more sideways movement.&nbsp;</p><h2 class="wp-block-heading" id="rising-wedge-on-btc-daily-chart">Rising Wedge on BTC Daily Chart</h2><p>Then, in September, he expects the crypto market to experience a strong correction. While he is unsure of the intensity of this correction, he says that he is certain September will be a very red month, and encourages trading shorts during that time. With a promise of sharing more details later, the analysts then conclude, saying that the <a href="https://cryptonewsland.com/silver-tongued-analyst-reveals-new-bull-targets/" rel="noopener noreferrer nofollow">market outlook remains extremely bullish</a> for the next few months, meaning green upward movements after September.&nbsp;</p><figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"> https://twitter.com/CryptoBoss1984/status/1957172841209557242 </div></figure><p>Another factor contributing to the expected red month of September is the chart shared in the post above. As we can see, this trader shares a concerning pattern forming on the BTC price chart. The rising wedge on the daily BTC price chart suggests a major correction to the $112,000 price range, also pointing to a major dip ahead. Certainly, patience and vigilance is advised until traders can make to to greener days in Q4.&nbsp;</p>

Over $126 Million Liquidated in Just an Hour, $125.18 Million From Long Positions

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