Bitcoin made it to the bull market support band a couple of days before September began, but regardless here we are This is where the bulls would like to hold the line. August formed a local high, September will likely form a local low. Note that September 1st was already a lower price than anything in August, so best case scenario is that the low is in on the 1st of the month. Ideally, BTC just holds at the 20W SMA throughout the month of September (like 2013, 2017, 2020, 2021, etc.) and then heads up to new highs in Q4. If BTC is unable to hold at the 20W SMA, the 50W SMA is the next major support level, as it has held as support throughout the entire bull market so far.
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According to CoinAnk, the top 1 BTC holder with the highest win rate (0x469e9a7f624b04c24f0e64edf8d8a277e6bf58a5) is increasing his BTC short position, adding $9.52M to his position. Current Position: Open Interest: -186.87 BTC, approximately $20.56M Average Opening Price: $110,506 Liquidation Price: $125,436 Current P/L: $88,126.59
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Alex from Blackrock just burned another 0.6% if the $SWIF supply 🔥 That’s 6.6% in one week! Will he make it 10%? 😳 @sheepwifhatcoin 9hdynudAhhWzuNFAnpz7NjvdKMfh9z8mcZKNYHuAUgJQ
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