There is an old proverb which says that history does not always repeat, but it tends to rhyme. If that holds true for Bitcoin (BTC), then a strong up-move may not happen in the month of September.
Bybit data shows that since 2013, Bitcoin has closed September in the red for six years and has managed a positive monthly close only on two occasions. The best performance was in 2016 when Bitcoin rose 6.04%.
The island topping turnover continues to drive selloffs. Yesterday’s extension lower leaves trade poised for a larger turnover with initial declines likely sliding into the 44253 - 42266 zone, when broken ⇒ 36575. Any recovery contained under 49666 will continue to be weighed down by selling pressures.