Greetings to all, colleagues!
Today is the last day of September, but the first day of a new working week. What important things await us this week?
First of all, according to the economic calendar, the entire week will be full of high-priority reports from the US. The main ones are the Change in the number of employees, the index of business activity in the manufacturing and services sectors, initial applications for unemployment benefits and on this first Friday of October, the NONFarm report (the unemployment rate in the non-farm sector)
All these reports and speeches by heads of various departments, especially the Federal Reserve, can shake the market quite strongly, at local levels for sure. Be careful and vigilant.
Now let's see how September ends for Bitcoin relative to previous years since 2013. And according to statistics from Coinglass, the first month of autumn this year shows the best growth dynamics for the entire period since 2013.
Also, note that during this period, after each "green" September, there was a whole quarter of growth. What will happen this year, only time will tell, but there are prerequisites for continued growth and the return of the altseason.
As we can see, after breaking through the $64K-65K zone, Bitcoin tried to consolidate over the weekend, but at the moment the price has returned to the weekly trading range of $62,500-64,000. To continue growth and exit the downward channel, it is important for buyers to consolidate in this trading range and react from the lower border, where the 21DMA 1D also passes.
Again, let's not forget about the favorite tactic of big players to collect stops under key levels before a strong movement, so a long squeeze up to $60K cannot be ruled out, especially since the 200DMA 1D also passes at this level, which has not yet been tested after the breakout in mid-September.
Now, if we compare Bitcoin (BTC.D) dominance and Ethereum (ETH) movement, it looks like the altseason is about to return to us. In 20-21, when dominance was falling very well, Ethereum grew by more than 4K%. Now, of course, I do not expect such growth for sure, but I think we can count on a historical high. Dominance is also now at the key resistance and the Evening Star candlestick formation has formed on the 1 Week TF. This is such a global idea and expectation for Ethereum for the next year or two. If more locally, then it is quite possible to see another tail on the 1 Month TF in October, approximately to the level of $2200.
So, friends, if history repeats itself, then in the next six months we will definitely see the awakening of many altcoins.
Good luck to you, profit and patience!
