September and its relation to how Bitcoin price action has deflated

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·@lupafilotaxia·
0.000 HBD
September and its relation to how Bitcoin price action has deflated
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<div class="text-justify">As September continues to progress, Bitcoin's price action continues to show a very weak performance, which has put bulls on high alert, but there is analysis that the price correction is part of a sideways move that will take Bitcoin past its next big move above $30,000. </div>
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<div class="text-justify">According to information reported on the news portal Cointelegraph, "Bitcoin traded in a tight range this week and is about to form the third consecutive Doji candlestick pattern on the weekly chart. Cryptocurrency markets received no support from US equity markets, which ended the week in a negative trend." </div>
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<div class="text-justify">However, beyond the formation of the third consecutive Doji candlestick pattern, the Bitcoin price remains above $25,000, which suggests that the support level is quite strong if we take into account that in these early days of September the price in this important area ends up bouncing quickly. </div>
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<div class="text-justify">However, even if the $25,000 level seems solid, the weakness Bitcoin has shown so far in September "has dragged down several altcoins, many of which have hit multi-week lows. This indicates that the cryptocurrency market in general is in a bearish situation".</div>
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<div class="text-justify">One of the elements that most captivated my attention from the aforementioned article, is that "If the bulls break above the USD 26,500 hurdle, the BTC/USDT pair could reach the USD 28,143 resistance. On the other hand, if the pair falls below USD 24,800, the BTC/USDT pair could recover. On the other hand, a drop below USD 24,800 could clear the way for a plunge towards USD 20,000".</div>
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<div class="text-justify">I would like to know your appreciation of what has been discussed here. </div>
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<div class="text-justify"><h3>SOURCES CONSULTED</h3></div>
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<div class="text-justify"><strong> Cointelegraph. </strong> TON, XLM, XMR, and MKR could attract buyers if Bitcoin rises above $26,500. <a href="https://cointelegraph.com/news/ton-xlm-xmr-and-mkr-could-attract-buyers-if-bitcoin-rises-above-26-500" rel="noopener" title="This link will take you away from steemit.com"> Link </a></div>
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<div class="text-justify"><h3>OBSERVATION:</h3></div>
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<div class="text-justify"> The cover image does not belong to the author: @lupafilotaxia, the image was taken from: <a href="https://cointelegraph.com/news/ton-xlm-xmr-and-mkr-could-attract-buyers-if-bitcoin-rises-above-26-500" rel="noopener" title="This link will take you away from steemit.com"> Cointelegraph </a></div>
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