Bitcoin would need to place a support level of $ 110,000 to retract a channel, which, according to a speculation, fell 5% in the weekend, according to bitcoin.
Bitcoin fell from $ 118,330 on Friday, falling to $ 112,300 on Sunday, a history for bitcoin started a bad month.
IG Market analyst Tony Sycamore on Monday described bitcoin as $ 114,800, “Friday’s Dyer (US) Jobs Report and a lot will be reported after the new tariff development,”
He said that the weekend tested the pullback from high levels of all time in the weekend and held a record high -coming support of $ 112,000, “which was also the target of logical plants.”
“If the risk feeling stabilized and bitcoin stays above the support of $ 112,000/$ 110,000, this record can retist high. Catalysts for this to break now.”
Nevertheless, if the risk hunger takes another leg less duing August and was to see a constant break of bitcoin, then the count of improvement moves back to $ 99,355 towards 200-day moves, she.
Sycamore’s prediction echoed a similar uniform from Arthur Hays on Sunday, warning that macroeconomic presestus bitcoins back to $ 100,000 level.
August is a bear month for bitcoin
Since 2013, the prices of bitcoin (BTC) have usually recorded a monthly decline in August, according to Glasnod.
In 2024, the assets declined by 8.6% by just $ 59,000. It was a small loss compared to 2023 and 2022, when it was lost in August, which fell to $ 27,300 and $ 19,800, responsible.
The average loss in August has been 11.4%, so if the history rhyme and BTC fall from a similer amount this month, it acquires approximately $ 105,000.
Nevertheless, the chart bulls leave this rule during the market years.
The september has been as bad
Last time there was an advantage in August, when 2021 was wearing a bull market when BTC added 13.8% to finish the month at just $ 47,000. It is still expected that 2025 is also a bull market year, after the four-yar market cycle.
Connected: Bitcoin records end with BTC price set for August at record month $ 115K
Outlook is not good for September ether, as eight of the last 12 September have been seen in losses.
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