Bitcoin price posting best September since 2016 as BTC sellers eye $27.5K
Bitcoin (BTC) bulls lost their grip on $27,000 into Sep. 30 as the monthly and quarterly close loomed large.
Data from Cointelegraph Markets Pro and TradingView tracked a cooling off for BTC price action ahead of the key September candle print.
The largest cryptocurrency remained up nearly 4% month-to-date, this marking its most successful September since 2016, per data from monitoring resource CoinGlass.
Quarterly performance for Q3, conversely, showed BTC/USD down 11.5% at the time of writing.
For traders and analysts, everything could change in the final hours of the monthly candle.
"In the past, a green September resulted in a green October, November and December as well," popular trader Jelle noted in part of the day's X analysis.
The day prior, Jelle predicted better conditions for Q4, including a breakout past $30,000 for the first time since early August.
After months of accumulating coins, and slowly preparing us for the bull market, I think its time.
Expecting Q4 to bring new strength -- and a break of $30k.
Send it.#Bitcoin pic.twitter.com/vkl0aq5hRS
Monitoring resource Material Indicators meanwhile warned of what it called “textbook” bearish signals from multiple moving averages (MAs) across both longer and shorter timeframes.
Related: Bitcoin halving to raise ‘efficient’ BTC mining costs to $30K
Beyond the monthly and weekly close, the impending United States government shutdown should continue to suppress BTC price action unless a solution is found in time, it added.
We are heading into the last #trading day of the month with textbook bearish Technicals from the Key Moving Averages on Daily, Weekly and Monthly TFs and #TrendPrecognition is flashing a new #TradingSignals on the #BTC Daily chart as if it knows we
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