Bitcoin’s been on a rollercoaster lately. After hitting a new all-time high in mid-August, it took a dive, dropping over 4%. Now, it’s in a bit of a holding pattern, leaving everyone wondering what’s next.
A Crypto Expert’s Prediction
A well-known crypto trader, KillaXBT, has weighed in on Bitcoin’s potential price movements for September. Using something called “candle range theory” (CRT) and looking at the monthly chart, they’ve predicted that September will be a make-or-break month for Bitcoin’s current bull run.
August’s Rollercoaster Ride
KillaXBT points out that Bitcoin had a pretty wild August. It hit a monthly low, then bounced back above its opening price, even briefly surpassing its previous all-time high before the recent drop. This shows a lot of volatility and a potentially parabolic price movement.
September’s Crucial Crossroads
The key thing for September, according to KillaXBT, is whether Bitcoin can stay above its August opening price of around $115,747.
If it does:
If it doesn’t: A drop below the August opening price could mean trouble, with the monthly low of around $111,986 acting as the next support level. Breaking below that could trigger a significant correction.
The Current Situation
As of now, Bitcoin is trading around $117,559. While it’s slightly down for the week, the bigger picture shows relatively small changes over the past week and month, suggesting a period of uncertainty despite the recent all-time high. September will tell the real story.
