Bitcoin price analysis

Technical Resistance is expected around 31986.16/ 32989.19/ 34658.69 with Stops expected above.   Bitcoin chart analysis Historically the price of BTC last day of September was above the open price two times out of 11, and 9 out of 11 the price was lower than the price at the start of the month. The best month for Bitcoin has been February for the last eleven years, eight times the price of BTC at the end of February was higher than the price at the start of the month. The worst month is September, nine times out of 11, the price at the end of September was lower than starting price. Check monthly performance for more details.

Data from Cointelegraph Markets Pro and TradingView showed BTC price avoiding volatility over the weekend, operating in a tight $200 range. A Historical look at Bitcoin, BTC’s price: Grayscale Spot ETF and GBTC’s Discount To NAV: On August 29, a pivotal decision was made by a US Federal Appeals Court. They ruled that the U.S. Securities and Exchange Commission (SEC) must revisit and reconsider its earlier rejection of the Grayscale Bitcoin Trust’s (GBTC) application to transition into a spot ETF. This legal development saw GBTC’s discount to NAV shift from -24% to -18% on the same day, indicating heightened market optimism. By the end of August, GBTC was at a discount-to-NAV of -20.6%.

Top Definitions Bitcoin: Liquidity Suggests A Price Drop Is Coming The long wick on BTC’s price last week shows that bears are selling on rallies to the 20-week exponential moving average (EMA). Sellers will try to increase their advantage further by pulling the price below $15,458. If they do that, the BTC/USD pair could start the next leg of the downtrend. The pair could then decline to $13,000 and later to $11,000.

"Over a year, that would reduce miner selling from 328,500 to a range of 65,700-98,550 – a reduction in net BTC supply of roughly 250,000 bitcoins a year." Bitcoin price analysis: two downside factors for the crypto price in USD Buyers will have to drive and sustain the price above $26,833 to start a relief rally to the 50-day simple moving average (SMA) ($28,048). Such a move will suggest that the price may remain stuck inside the large range between $24,800 and $31,000.