According to Cointelegraph, Bitcoin (BTC) analysts are closely monitoring a potential breakout point in the coming weeks, despite market sentiment and historical data suggesting more downside risk in September.
Crypto analyst Mikybull Crypto highlighted a bullish divergence forming on Bitcoin’s daily chart, indicating a possible rally. In a Sept. 13 post on X, the analyst stated, “Bitcoin is nearing the breaking point out of the range.” A bullish divergence is a technical indicator used by traders to identify strengthening market momentum following lower lows, often signalling price reversals from downtrends.
Another analyst, Titan of Crypto, noted that Bitcoin recently retested a key support level, which could lead to a price breakout above $92,000. In a Sept. 13 post on X, Titan of Crypto explained, “In previous cycles, when the price retested the 50-week simple moving average, it bounced at least 40%. On average, the bounce was 71%. If BTC rallies 71% from here, it could reach $92,000.”
CryptoQuant contributing analyst Axel Adler suggested that Bitcoin has entered the “anxiety stage” based on the net unrealized profit-to-loss ratio (NUPL). This stage indicates that many short-term investors are currently experiencing losses, which could mark a potential bottom. In a Sept. 13 post on X, Adler wrote, “After the Belief stage at $72K, Net Unrealized Profit/Loss (NUPL) shows a green bar, which corresponds to the Anxiety stage. Investor anxiety, if you're not a long-term holder (LTH), is a permanent process, the best remedy for this is HODL.”
Additionally, popular analyst Rekt Capital noted that Bitcoin’s current downside aligns with previous historical cycles for September. In a Sept. 12 post on X, Rekt Capital stated, “Bitcoin is currently only -1.59% down on the month.” Historical data from CoinGlass shows that September has been the most bearish month for Bitcoin, with average returns of -4.69%.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when making a decision.
