The Bitcoin six-hour chart currently displays a series of red candles, signaling a less-than-ideal scenario, but it carries the promise of a significant price movement following weeks of sideways trading, briefly interrupted by a minor pump likely triggered by Grayscale-related news. The dominant narrative for September revolves around FTX’s impending liquidation of $3.4 billion in cryptocurrencies, weighing heavily on market sentiment, particularly impacting altcoins like Solana, which comprises a substantial portion of FTX’s assets.
These factors, combined with September’s historical adversity for the crypto market, have heightened concerns. Nevertheless, the focus should shift from short-term headlines to the consistently reliable long-term Bitcoin chart, which suggests a critical market juncture approaching over the next 60 to 90 days, with a potential drop to around $21,000 if the $24,000 support at the 50-week moving average does not hold. Understanding these historical patterns is essential for navigating the crypto landscape effectively.
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*The above video references an opinion and is for news/information and entertainment purposes only. It is not intended to be investment advice, financial advice, or any solicitation, recommendation, endorsement, or offer that you buy or sell any cryptocurrency or securities. Trading in cryptocurrencies and securities is a high risk activity involving risk of loss so please seek a duly licensed professional for investment or financial advice. The information provided on this video should not be used to make any investment or financial decisions without consulting your financial or investment advisor. This video contains my opinion only and is not intended to cause harm or defame anyone or any entity.
Crypto Capital Venture is big on tracking bitcoin market in particular. The general premise of technical analysis videos on Crypto Capital Venture is that although Bitcoin price price moves very in a very volatile way, there is much opportunity in being prepared for upside and downside. We also cover Bitcoin news on this channel as it comes out.
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