As the selling wave continues, new lows are being sought. Altcoins have returned to levels not seen in a few weeks. Cryptocurrency investors were not very hopeful about September and they were right. So how many dollars are analysts targeting for this month? Bitcoin, according to 2 popular cryptocurrency analysts $55,763.36 Let’s take a quick look at their goals.
Bitcoin September Price Target
Analyst with the pseudonym Daan Crypto Trades considers the recent decline normal after the rejection from the 200EMA level. Weekends cryptocurrencies These are periods of low volume for the stock market, which paves the way for deeper lows. With 11 days left until the Fed meeting, the crypto analyst wrote the following; A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“Bitcoin rejects Daily 200EMA and April “War FUD“ is trading below its lows.
“$56,500 and the 200EMA on the daily are key levels that the bulls need to reclaim at some point to turn things around. The next level below is the 52K-53K levels where the price has previously closed above.”
If there are closings below $ 53,000, the door will be opened to deeper lows. NASDAQ100 had its biggest weekly loss since November 2022. The volume sales in stocks are similar to previous periods when the Fed started to cut interest rates.
Bitcoin About to See Bottom
At least that’s what Bob Loukas thinks. He said in the chart he published a few minutes ago that we could soon see a bottom reversal. Thus, we could see a new attempt at the $65,000 level that has not been surpassed. The analyst, who sees previous downturns as intermediate cycles, expects the movement that has been going on for 63 days to now reverse.
Previous returns lasted 65, 42 and 57 days. The last down period was the longest and ended after 65 days BTC It has recovered. If the return starts now, a trial to $72,000 may be seen. Bob wrote the following a few minutes ago;
“Day 63 of the bearish intermediate cycle, so we should look for a bottom here very soon. No major selling volume as it retests this area for the 3rd time. After a good bounce in late September, what will happen (in the medium term) becomes a more important question.”
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
